Total amount raised
$204.9 Millions
Latest funding date
07/01/2023
Location
Mynd has successfully raised funding through various rounds, attracting a diverse group of investors including Invesco and R136 Ventures. The company, now a part of Roofstock, focuses on tech-enabled property management and real estate investing.
Keep reading to explore the intricacies of Mynd's fundraising journey and the investors backing this innovative platform.
What Is Mynd?
Mynd, founded in 2016 by Colin Wiel and Doug Brien, is a tech-enabled property management company headquartered in Oakland, California. The company specializes in managing single-family rental properties, offering services such as tenant placement, maintenance, and real-time insights through technology.
Operating across multiple states in the U.S., Mynd manages over 20,000 homes and employs between 251-500 people. The company aims to streamline property management processes and maximize returns for property owners, leveraging data analytics and technology to enhance efficiency and transparency.
How Much Funding Has Mynd Raised?
- Venture Round
- Amount Raised: $5.5M
- Date: October 2016
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop the initial technology platform.
- Series A
- Amount Raised: $5.1M
- Date: March 2017
- Lead Investors: Jackson Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance service offerings.
- Venture Round
- Amount Raised: $5M
- Date: October 2017
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve customer acquisition strategies.
- Series B
- Amount Raised: $20M
- Date: May 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology platform and expand into new markets.
- Series C
- Amount Raised: $42M
- Date: June 2020
- Lead Investors: Wells Fargo Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance data analytics capabilities and support rapid growth.
- Venture Round
- Amount Raised: $40M
- Date: June 2021
- Lead Investors: Invesco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and improve operational efficiency.
- Venture Round
- Amount Raised: $57.3M
- Date: September 2021
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the technology platform.
- Venture Round
- Amount Raised: $30M
- Date: July 2023
- Lead Investors: Invesco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and advance the technology platform.
Total Amount Raised: $205.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Invesco
- Details: Invesco is a global investment management firm that focuses on a wide range of asset classes, including equities, fixed income, real estate, and alternative investments. They have a significant presence in the investment management industry with a diverse portfolio.
- Investment Focus Areas: Equities, fixed income, real estate, alternative investments.
- Notable Investments: Technology, healthcare, real estate.
- R136 Ventures
- Details: R136 Ventures is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They are known for supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology startups, healthcare companies, innovative businesses.
- Notable Investments: Technology, healthcare, innovative businesses.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise, consumer, and health sectors. They have a strong track record of backing successful startups.
- Investment Focus Areas: Enterprise, consumer, health.
- Notable Investments: Snap, Grubhub, Nest.
- Jackson Square Ventures
- Details: Jackson Square Ventures is a venture capital firm that invests in early-stage technology companies. They focus on companies that have the potential to become market leaders.
- Investment Focus Areas: Technology, SaaS, marketplaces.
- Notable Investments: DocuSign, Strava, Upwork.
- Wells Fargo Securities
- Details: Wells Fargo Securities is the investment banking division of Wells Fargo & Company. They provide a range of services including mergers and acquisitions, capital raising, and risk management.
- Investment Focus Areas: Financial services, real estate, technology.
- Notable Investments: Financial services, real estate, technology.
What's Next for Mynd?
Mynd's future looks promising with significant opportunities for expansion and technological advancement. With $30 million in new financing and over $3.5 billion in assets under management, the company is well-positioned to grow its operations and enhance its technology platform. The increasing interest in single-family rentals and the rising importance of real estate technology present substantial growth potential.
Future fundraising opportunities are likely as Mynd continues to scale and capture more market share. The company may seek additional funding to support further expansion and technological enhancements. However, challenges such as competition from other real estate technology platforms, market fluctuations, and regulatory changes could pose obstacles along the way.
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