Total amount raised
$1.7 Billion
Latest funding date
6/1/2022
Location
HomeLight has successfully navigated 14 funding rounds, with notable investors including Zeev Ventures and Stereo Capital. The platform offers a range of real estate services, from connecting users with top agents to facilitating cash offers through its Simple Sale™ program.
Keep reading to explore the intricacies of HomeLight's fundraising journey and the investors backing this innovative platform.
What Is HomeLight?
HomeLight is a real estate technology company based in Scottsdale, Arizona. The company operates in the PropTech, Real Estate, and Residential industries, providing a platform for buying and selling homes.
Founded by an undisclosed team, HomeLight employs between 501 and 1000 people. The company offers unique programs like "Buy Before You Sell" and connects users with top real estate agents to facilitate smoother transactions.
How Much Funding Has HomeLight Raised?
- Series A
- Amount Raised: USD 11,000,000
- Date: April 2016
- Lead Investors: Group 11, Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 40,000,000
- Date: August 2017
- Lead Investors: Group 11, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and develop new product features.
- Series C
- Amount Raised: USD 63,000,000
- Date: November 2019
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support acquisitions and enhance technological capabilities.
- Debt Financing
- Amount Raised: USD 46,000,000
- Date: November 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
- Debt Financing
- Amount Raised: USD 100,000,000
- Date: May 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the "Buy Before You Sell" product.
- Series D
- Amount Raised: USD 100,000,000
- Date: September 2021
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market presence.
- Debt Financing
- Amount Raised: USD 263,000,000
- Date: September 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and strategic acquisitions.
- Series D
- Amount Raised: USD 60,000,000
- Date: June 2022
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the acquisition of Accept.inc and expand product offerings.
- Debt Financing
- Amount Raised: USD 55,000,000
- Date: June 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
- Series D
- Amount Raised: USD 20,000,000
- Date: August 2024
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the "Buy Before You Sell" product to 40 new states.
Total Amount Raised: USD 758,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Zeev Ventures
- Details: Zeev Ventures is an early-stage venture capital firm led by Oren Zeev. The firm has been a lead investor in multiple funding rounds for HomeLight, including the Series D extension.
- Investment Focus Areas: Early-stage investments, technology, real estate.
- Notable Investments: HomeLight, TripActions, Houzz.
- Group 11
- Details: Group 11 is a venture capital firm that has invested in HomeLight's Series A and Series B rounds. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Fintech, enterprise software, consumer internet.
- Notable Investments: Tipalti, Next Insurance, TripActions.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that participated in HomeLight's Series D extension. The firm has a long history of investing in technology and healthcare companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Uber, Roku, Siri.
- Stereo Capital
- Details: Stereo Capital is a venture capital firm that has invested in HomeLight's Series D extension. The firm focuses on growth-stage technology companies.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: HomeLight, Spotify, Airbnb.
- Crosslink Capital
- Details: Crosslink Capital is a venture capital firm that has invested in HomeLight. The firm focuses on early-stage and growth-stage investments in technology and consumer companies.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Pandora, Ancestry.com, Coupa.
What's Next for HomeLight?
HomeLight's future looks promising as it plans to expand its "Buy Before You Sell" product to 40 new states. This expansion could significantly increase its market presence, leveraging its existing network of over 10,000 loan officers and 28,000 real estate agents. The company has already unlocked more than $655 million in equity, indicating substantial growth potential.
Given its successful track record of raising $762.5 million, HomeLight is well-positioned for future fundraising opportunities. Additional Series D extensions or new funding rounds could support further technological advancements and market expansion. However, the company may face challenges such as competition from other proptech firms and regulatory hurdles in different states.
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