Total amount raised
$263.5 Million
Latest funding date
06/01/2021
Location
Side has successfully raised funding over seven rounds, with the latest being a Venture - Series Unknown. The company is backed by 20 investors, including notable names like Parker89 and ICONIQ Growth.
Keep reading to explore the intricacies of Side's fundraising journey and the investors backing this innovative real estate brokerage platform.
What Is Side?
Side is a real estate brokerage platform based in San Francisco, California. The company operates in the real estate, real estate brokerage, real estate investment, and sales industries. It empowers top-producing agents, teams, and independent brokers to create and grow their own companies.
Founded with the mission to transform the traditional brokerage model, Side provides comprehensive support, including compliance, technology, and business growth services. The company has an employee count ranging from 251 to 500.
How Much Funding Has Side Raised?
- Round Name: Seed
- Amount Raised: USD 2,500,000
- Date: January 2017
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial technology platform.
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's technology and expand its initial market presence.
- Round Name: Series A
- Amount Raised: USD 8,000,000
- Date: March 2017
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the technology platform.
- Round Name: Series B
- Amount Raised: USD 18,000,000
- Date: March 2019
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve service offerings.
- Round Name: Series C
- Amount Raised: USD 35,000,000
- Date: July 2019
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the technology platform.
- Round Name: Series D
- Amount Raised: USD 150,000,000
- Date: March 2021
- Lead Investors: Coatue
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To scale the business and prepare for a future IPO.
- Round Name: Series Unknown
- Amount Raised: USD 50,000,000
- Date: June 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: USD 2,500,000,000
- Motivation Behind the Round: To accelerate growth and set the stage for a future IPO.
Total Amount Raised: USD 263,500,000. Current Valuation: USD 2,500,000,000.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on both private and public companies. They have a strong presence in the technology, consumer, and industrial sectors.
- Investment Focus Areas: Technology, consumer, industrial
- Notable Investments: Facebook, LinkedIn, Spotify
- Coatue Management
- Details: Coatue Management is a global investment firm known for its focus on technology, media, and telecommunications. They manage both private and public equity funds.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, DoorDash, ByteDance
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, software
- Notable Investments: Box, LinkedIn, Square
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm that focuses on early-stage technology companies. They have a history of investing in companies that become market leaders.
- Investment Focus Areas: Technology, consumer, enterprise
- Notable Investments: Starbucks, New Relic, Docker
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage technology companies. They have a long history of successful investments in the tech industry.
- Investment Focus Areas: Technology, software, consumer
- 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, coupled with a 200% year-over-year increase in agent-represented home sales, positions Side to become a top 10 national brokerage by volume. The company’s recent $50 million funding round, led by Tiger Global Management, will accelerate the growth of its technology brokerage platform and set the stage for a future IPO.
Future fundraising opportunities are promising, with the potential IPO being a significant milestone. The backing from top technology IPO underwriters indicates strong investor confidence. However, Side will need to navigate challenges such as competition from other real estate technology companies and maintaining service quality during rapid expansion. The company’s ability to leverage technology and support services will be crucial in overcoming these hurdles and achieving its ambitious goals.
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