Knock
Total amount raised
$654 Millions
Latest funding date
June, 2022
Knock
Location
Title
Knock has successfully raised significant funding over multiple rounds, establishing itself as a notable player in the real estate market. The platform offers innovative solutions like the Knock Bridge Loan™, enabling homeowners to leverage their current home equity to purchase a new property.
Continue reading to delve into the details of Knock's fundraising journey and the investors who are supporting this transformative platform.
What Is Knock?
Knock, founded in 2015, is headquartered in Atlanta, Georgia. The company was established by Sean Black, Jamie Glenn, and Karan Sakhuja.
Knock specializes in offering a unique bridge loan product that allows homeowners to leverage the equity in their current home to purchase a new one before selling the old property.
With a dedicated team, Knock aims to simplify the home buying process, although the exact number of employees is not specified.
How Much Funding Has Knock Raised?
- Series A Funding Round
- Amount Raised: $32 million
- Date: January 2017
- Lead Investors: RRE Ventures
- Motivation Behind the Round: To expand Knock's operations and test its new model for selling homes, starting in Atlanta, Georgia, and eventually moving to other markets.
- Series B Funding Round
- Amount Raised: $400 million
- Date: January 15, 2019
- Lead Investors: Foundry Group
- Motivation Behind the Round: To accelerate national expansion and double its 100-person headcount.
- Latest Funding Round
- Amount Raised: $220 million
- Date: June 7, 2022
- Lead Investors: Foundry Group
- Motivation Behind the Round: The funds will be used to accelerate growth and expand operations.
Knock has raised a total of $652 million in funding. The current valuation is $1 billion (~estimated).
Key Investors
- Foundry Group
- Details: Foundry Group is a venture capital firm based in Boulder, Colorado. It focuses on investing in early-stage technology companies.
- Investment Focus Areas: Technology, early-stage investments, software.
- Notable Investments: Fitbit, SendGrid, Zynga.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in internet and mobile companies. It has offices in New York and Los Angeles.
- Investment Focus Areas: Internet, mobile, early and growth-stage investments.
- Notable Investments: Venmo, Huffington Post, Maker Studios.
- RRE Ventures
- Details: RRE Ventures is a New York-based venture capital firm. It invests in early-stage companies across various sectors.
- Investment Focus Areas: Technology, media, financial services.
- Notable Investments: BuzzFeed, Venmo, SpaceX.
- First American Financial's venture arm Parker89
- Details: Parker89 is the venture capital arm of First American Financial Corporation. It focuses on investing in innovative real estate technology.
- Investment Focus Areas: Real estate technology, financial services.
- Notable Investments: Not specified.
- Second Century Ventures
- Details: Second Century Ventures is the venture capital arm of the National Association of Realtors. It invests in companies that are transforming the real estate industry.
- Investment Focus Areas: Real estate technology, venture capital.
- Notable Investments: DocuSign, HouseCanary.
What's Next for Knock?
Knock stands at the cusp of significant growth opportunities, driven by the increasing demand for fintech solutions in the real estate market. With $220 million raised in its latest funding round, the company is well-positioned to enhance its mobile app experience and expand its market presence beyond the current 75 markets. The potential to revolutionize the home selling process and make home trade-ins as easy as car trade-ins presents a vast opportunity for Knock.
Future fundraising rounds are likely as Knock continues to scale and attract strategic investors. However, the company will face challenges such as competition from well-funded rivals like Opendoor and regulatory hurdles in different markets. Maintaining a high level of service and technology as the company scales will be crucial for sustained growth.
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