Total amount raised
$160 Millions
Latest funding date
5/1/2021
Location
Homeward has successfully raised significant funding over multiple rounds, attracting notable investors such as Breyer Capital and Blackstone Group. The company offers a unique platform that enables homebuyers to make all-cash offers and purchase a new home before selling their old one.
Keep reading to explore the intricacies of Homeward's fundraising journey and the investors backing this innovative platform.
What Is Homeward?
Homeward, founded in 2018 by Tim Heyl, is an Austin-based startup that revolutionizes the home buying process. The company enables homebuyers to make all-cash offers and purchase a new home before selling their old one.
With a team of 101-250 employees, Homeward is expanding its services across Texas, Georgia, and Colorado. The platform offers solutions that allow clients to sell their homes, buy before selling, and make cash offers.
Homeward's innovative approach aims to simplify real estate transactions, providing a seamless experience for both homebuyers and real estate agents.
How Much Funding Has Homeward Raised?
- Seed Round
- Amount Raised: $4M
- Date: July 2019
- Lead Investors: LiveOak Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Debt Financing
- Amount Raised: $21M
- Date: July 2019
- Lead Investors: Keystone Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for initial home purchases.
- Series A
- Amount Raised: $20M
- Date: May 2020
- Lead Investors: Adams Street Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform capabilities.
- Debt Financing
- Amount Raised: $85M
- Date: May 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support increased demand and operational scaling.
- Series B
- Amount Raised: $136M
- Date: May 2021
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Just over $800M
- Motivation Behind the Round: To scale operations, open new markets, and enhance customer experience.
- Debt Financing
- Amount Raised: $235M
- Date: May 2021
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for home purchases and support market expansion.
Total Amount Raised: $501M. Current Valuation: Just over $800M.
Key Investors
- Norwest Venture Partners
- Details: Norwest Venture Partners is a leading venture and growth equity investment firm managing more than $9.5 billion in capital. Jeff Crowe, managing partner at Norwest, will join Homeward’s board of directors.
- Investment Focus Areas: Consumer, enterprise, healthcare.
- Notable Investments: Uber, Spotify, Opendoor.
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager with investments in more than 30 countries. They participated in Homeward's equity financing rounds.
- Investment Focus Areas: Private equity, venture capital, private credit.
- Notable Investments: Not publicly disclosed.
- LiveOak Venture Partners
- Details: LiveOak Venture Partners is an early-stage venture capital firm based in Austin, Texas. They have been involved in multiple funding rounds for Homeward.
- Investment Focus Areas: Technology, technology-driven services.
- Notable Investments: Not publicly disclosed.
- Blackstone
- Details: Blackstone is one of the world’s leading investment firms, with a focus on private equity, real estate, and credit. They participated in Homeward's Series B funding round.
- Investment Focus Areas: Private equity, real estate, credit.
- Notable Investments: Hilton Worldwide, Refinitiv, Bumble.
- Breyer Capital
- Details: Breyer Capital is a global venture capital and private equity firm focused on catalyzing high-impact entrepreneurs. They are a notable investor in Homeward.
- Investment Focus Areas: Technology, media, healthcare.
- Notable Investments: Facebook, Etsy, Marvel Entertainment.
What's Next for Homeward?
Homeward's future looks promising as it aims to capitalize on the growing demand for cash offers in the real estate market. With $371 million in new funding, the company plans to expand its services beyond Texas, Georgia, and Colorado, tapping into a nationwide market. This expansion presents a significant opportunity to increase its customer base and enhance its service offerings, making home buying more accessible and competitive.
As Homeward scales, future fundraising opportunities are likely, given the high demand and rapid growth. The company may attract additional investments to support its expansion and technological advancements. However, challenges such as managing rapid growth, maintaining service quality, and navigating regulatory landscapes in new markets could pose hurdles. Despite these challenges, Homeward's innovative approach and strong investor backing position it well for continued success.
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