Total amount raised
$365.3 Millions
Latest funding date
3/1/2022
Location
Roofstock has successfully raised significant capital through multiple funding rounds, with its latest being a Series E. The platform specializes in the single-family rental (SFR) sector, offering a comprehensive suite of services for investors.
Keep reading to explore the intricacies of Roofstock's fundraising journey and the investors backing this innovative platform.
What Is Roofstock?
Roofstock, founded in May 2015, is an online marketplace for investing in leased single-family rental homes. Headquartered in Oakland, California, the company was established by Devin Wade, Gary Beasley, Gregor Watson, and Rich Ford.
Roofstock offers a transparent and low-friction way to invest in single-family rental properties. The platform provides research, analytics, and insights to help investors evaluate and purchase independently certified properties at set prices.
With a workforce of between 501-1000 employees, Roofstock enables investors to manage their real estate investments like stock portfolios, focusing on asset allocation rather than dealing with vacant homes that need repairs and leasing.
How Much Funding Has Roofstock Raised?
- Funding Round: Funding Round
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to launch the platform.
- Funding Round: Venture Round
- Amount Raised: $6.3M
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the team.
- Funding Round: Series A
- Amount Raised: $7M
- Date: March 2016
- Lead Investors: Bain Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and improve user experience.
- Funding Round: Series B
- Amount Raised: $20M
- Date: November 2016
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and increase property listings.
- Funding Round: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2017
- Lead Investors: Akkadian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors.
- Funding Round: Series C
- Amount Raised: $35M
- Date: October 2017
- Lead Investors: Canvas
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Funding Round: Series C
- Amount Raised: $7M
- Date: January 2018
- Lead Investors: SVB Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and data analytics capabilities.
- Funding Round: Series D
- Amount Raised: $50M
- Date: January 2020
- Lead Investors: SVB Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth, including investments in data science and product capabilities.
- Funding Round: Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and market presence.
- Funding Round: Series E
- Amount Raised: $240M
- Date: March 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
Total Amount Raised: $365.3M. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused venture capital funds in the world, managed by SoftBank Group. It aims to invest in market-leading, tech-enabled growth companies.
- Investment Focus Areas: Artificial intelligence, robotics, telecommunications, e-commerce.
- Notable Investments: Uber, WeWork, ByteDance.
- SVB Capital
- Details: SVB Capital is a venture capital and private equity division of SVB Financial Group, focusing on technology and life sciences companies. It provides multi-stage investment solutions.
- Investment Focus Areas: Fintech, healthcare, enterprise software.
- Notable Investments: DocuSign, Stripe, Airbnb.
- Canvas
- Details: Canvas Ventures is a venture capital firm that invests in early-stage technology companies. It is known for its hands-on approach to helping startups grow.
- Investment Focus Areas: Fintech, digital health, enterprise software.
- Notable Investments: Houzz, Zola, Evernote.
- Akkadian Ventures
- Details: Akkadian Ventures specializes in providing liquidity solutions to early investors and employees of high-growth private companies. It focuses on secondary market transactions.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Not publicly disclosed.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors.
- Investment Focus Areas: Enterprise technology, consumer, health.
- Notable Investments: Snap, Nest, GrubHub.
What's Next for Roofstock?
Roofstock stands at the cusp of significant growth opportunities, driven by its investment in data science, product, and engineering capabilities. The single-family rental home sector, valued at $3 trillion, offers a vast market for expansion. Roofstock's new services, like Roofstock Platform Services, aim to attract institutional investors, further broadening its reach.
Future fundraising seems promising, given the successful Series D round and the total of $133 million raised. However, challenges such as maintaining growth, competing with other proptech companies, and ensuring data reliability could pose hurdles. Navigating these will be crucial for Roofstock's continued success.
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