Total amount raised
$263.5 Millions
Latest funding date
06/01/2021
Location
Side has successfully raised significant funding through multiple rounds, attracting notable investors such as Parker89 and ICONIQ Growth. The platform empowers real estate agents, teams, and independent brokerages to create and grow their own companies.
Keep reading to explore the intricacies of Side's fundraising journey and the investors backing this innovative platform.
What Is Side?
Side, founded in 2017, is a real estate brokerage platform headquartered in San Francisco, California. The company operates in the real estate, real estate brokerage, and real estate investment industries.
Founded by Edward Wu, Guy Gal, and Hilary Saunders, Side empowers top agents, teams, and independent brokerages to create and grow their own companies. The company employs between 251 and 500 people.
How Much Funding Has Side Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: January 2017
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial platform.
- Series A
- Amount Raised: $8M
- Date: March 2017
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: $18M
- Date: March 2019
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $35M
- Date: July 2019
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and improve technology.
- Series D
- Amount Raised: $150M
- Date: March 2021
- Lead Investors: Coatue
- Valuation at Round: $1B
- Motivation Behind the Round: To scale the business and increase valuation.
- Venture Round
- Amount Raised: $50M
- Date: June 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $2.5B
- Motivation Behind the Round: To accelerate growth and prepare for a future IPO.
Total Amount Raised: $263.5M
Current Valuation: $2.5B
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology, consumer, and industrial sectors. They have a strong track record of backing high-growth companies.
- Investment Focus Areas: Technology, consumer, industrial sectors
- Notable Investments: Facebook, LinkedIn, Spotify
- ICONIQ Capital
- Details: ICONIQ Capital is a global multi-family office and merchant bank that invests in technology and growth-stage companies. They manage the wealth of some of the world's most influential families.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Uber, Airbnb, Snowflake
- D1 Capital Partners
- Details: D1 Capital Partners is an investment firm that deploys capital in both public and private markets. They focus on high-growth sectors and have a diversified investment strategy.
- Investment Focus Areas: Public and private markets, technology, healthcare, consumer sectors
- Notable Investments: Stripe, Instacart, SpaceX
- Coatue Management
- Details: Coatue Management is a global technology-focused investment manager. They invest in both private and public markets, with a strong emphasis on technology and media companies.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, DoorDash, ByteDance
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage technology companies. They have a long history of supporting startups through their growth phases.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: HubSpot, Zendesk, Oculus
What's Next for Side?
Side is poised for significant growth as it plans to expand into 15 new states by the end of the year. This expansion could position the company as a top 10 national brokerage by volume, with an expected $20 billion in home sales. The recent $50 million funding round, led by Tiger Global Management, sets the stage for a future IPO, providing ample opportunities for further capital infusion.
However, the path ahead is not without challenges. Side will need to navigate competition from other real estate technology companies and manage the complexities of rapid expansion. Continuous innovation and maintaining service quality will be crucial as the company scales its operations and prepares for its public offering.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Side and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
