Total amount raised
$204.9 Million
Latest funding date
07/01/2023
Location
Mynd has successfully raised funding over 8 rounds, with the latest being a Venture - Series Unknown round. The company has been acquired by Roofstock and has also acquired 4 organizations, including HomeUnion.
Mynd is backed by 12 investors, with Invesco and R136 Ventures being the most recent. Keep reading to explore the intricacies of Mynd's fundraising journey and the investors backing this innovative platform.
What Is Mynd?
Mynd is a tech-enabled property management and real estate investing company based in Oakland, California. The company specializes in helping investors find and manage single-family rentals, leveraging advanced technology to provide transparency and efficiency in property management.
Founded with a mission to offer full-service property management, Mynd manages over 20,000 homes across 40+ markets in the United States. The company operates as a private entity and has an employee count ranging from 251 to 500. Mynd is affiliated with Roofstock and integrates with Stessa for optimized rental portfolio management.
How Much Funding Has Mynd Raised?
- Series A
- Amount Raised: USD 5,500,000
- Date: October 2016
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Mynd's property management services and enhance their technology platform.
- Series A
- Amount Raised: USD 5,100,000
- Date: March 2017
- Lead Investors: Jackson Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Mynd's technology and expand market reach.
- Series Unknown
- Amount Raised: USD 5,000,000
- Date: October 2017
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series B
- Amount Raised: USD 20,000,000
- Date: May 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve technology infrastructure.
- Series C
- Amount Raised: USD 42,000,000
- Date: June 2020
- Lead Investors: Wells Fargo Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technological capabilities.
- Series Unknown
- Amount Raised: USD 40,000,000
- Date: June 2021
- Lead Investors: Invesco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and improve technology platform.
- Series Unknown
- Amount Raised: USD 57,300,000
- Date: September 2021
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale business operations and enhance service offerings.
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: July 2023
- Lead Investors: Invesco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and advance technology platform.
Total Amount Raised: USD 204,900,000. Current Valuation: Not publicly disclosed.
Key Investors
- Invesco
- Details: Invesco is a global investment management firm headquartered in Atlanta, Georgia. It offers a wide range of investment solutions and services to clients worldwide.
- Investment Focus Areas: Real estate, financial services, technology.
- Notable Investments: Mynd, BlackRock, Vanguard.
- QED Investors
- Details: QED Investors is a leading venture capital firm based in Alexandria, Virginia. The firm focuses on investing in early-stage, disruptive financial services companies.
- Investment Focus Areas: Fintech, financial services, technology.
- Notable Investments: Credit Karma, SoFi, Avant.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise and consumer sectors. It is headquartered in Menlo Park, California.
- Investment Focus Areas: Technology, enterprise, consumer.
- Notable Investments: Snap, Grubhub, Nest.
- Wells Fargo Securities
- Details: Wells Fargo Securities is the investment banking division of Wells Fargo & Co. It provides a range of capital markets and advisory services to corporate, government, and institutional clients.
- Investment Focus Areas: Financial services, real estate, technology.
- Notable Investments: Mynd, Uber, Airbnb.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage companies across various sectors. It is based in Menlo Park, California.
- Investment Focus Areas: Healthcare, technology, fintech.
- Notable Investments: LendingClub, Match.com, Instacart.
What's Next for Mynd?
Mynd's future looks promising with significant opportunities for expansion and technological advancement. The recent $30 million financing round, led by Invesco Real Estate, underscores the potential for growth in the single-family rental market. With over $3.5 billion in assets under management, Mynd is well-positioned to scale its operations and enhance its technology platform, catering to the increasing demand for comprehensive property management solutions.
As the company continues to grow, future fundraising opportunities are likely, given the strong investor confidence demonstrated in the latest funding round. Mynd's ability to attract substantial capital will enable it to enter new markets and introduce innovative services, further solidifying its market presence. However, the company may face challenges such as competition from other real estate platforms and market fluctuations. Ensuring consistent service quality and staying ahead of technological advancements will be crucial for Mynd's sustained success.
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