Total amount raised
$1.7 Billion
Latest funding date
June, 2022
Location
HomeLight has successfully raised significant funding through multiple rounds, including a Series D round on August 26, 2024. The platform offers a comprehensive suite of services for buying, selling, and buying before selling homes.
Keep reading to explore the intricacies of HomeLight's fundraising journey and the investors backing this innovative real estate platform.
What Is HomeLight?
Founded in 2012, HomeLight is a real estate technology company based in Scottsdale, Arizona. The company was established by BC Broussard, Drew Uher, and Jason Zhang.
HomeLight offers a platform that connects home buyers and sellers with top real estate agents. It provides services such as agent matching, cash offers for homes, and tools to help clients buy before they sell.
With a workforce of 501-1000 employees, HomeLight aims to simplify the home buying and selling process through innovative technology and comprehensive resources.
How Much Funding Has HomeLight Raised?
- Series A
- Amount Raised: $11M
- Date: April 2016
- Lead Investors: Group 11, Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's technology.
- Series B
- Amount Raised: $40M
- Date: August 2017
- Lead Investors: Group 11, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve service offerings.
- Series C
- Amount Raised: $63M
- Date: November 2019
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new product development.
- Debt Financing
- Amount Raised: $46M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
- Debt Financing
- Amount Raised: $100M
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support business expansion.
- Series D
- Amount Raised: $100M
- Date: September 2021
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expand product offerings.
- Debt Financing
- Amount Raised: $263M
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and operational growth.
- Series D
- Amount Raised: $60M
- Date: June 2022
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technology.
- Debt Financing
- Amount Raised: $55M
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic growth.
- Series D
- Amount Raised: $20M
- Date: August 2024
- Lead Investors: Zeev Ventures, Stereo Capital, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the "Buy Before You Sell" product to 40 new states.
Total Amount Raised: $758M. Current Valuation: Not publicly disclosed.
Key Investors
- Zeev Ventures
- Details: Zeev Ventures is an early-stage venture fund that has been a significant backer of HomeLight, leading multiple funding rounds. The firm is known for its hands-on approach and deep involvement in the companies it invests in.
- Investment Focus Areas: Technology, Real Estate, Fintech
- Notable Investments: Houzz, Tipalti, TripActions
- Group 11
- Details: Group 11 is a venture capital firm that focuses on early-stage investments in technology companies. They have been involved in several of HomeLight's funding rounds, providing crucial support for its growth.
- Investment Focus Areas: Fintech, SaaS, Real Estate
- Notable Investments: Next Insurance, Tipalti, Sunbit
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that has been investing in technology and life sciences companies since 1976. They participated in HomeLight's Series D extension funding round.
- Investment Focus Areas: Consumer, Enterprise, Healthcare
- Notable Investments: Uber, Roku, Poshmark
- Stereo Capital
- Details: Stereo Capital is a venture capital firm that invests in high-growth technology companies. They joined Zeev Ventures in the Series D extension round for HomeLight.
- Investment Focus Areas: Technology, Consumer, Fintech
- Notable Investments: Not publicly disclosed
- Crosslink Capital
- Details: Crosslink Capital is a venture capital and private equity firm that invests in early-stage and growth-stage companies. They have been a part of HomeLight's investor base, supporting its expansion.
- Investment Focus Areas: Technology, Consumer, Fintech
- Notable Investments: Pandora, Coupa, Chime
What's Next for HomeLight?
HomeLight's future looks promising as it plans to expand its "Buy Before You Sell" product to 40 new states. This move could significantly increase its market presence, leveraging AI to unlock more equity for homebuyers. With the product already available in 47 states and supported by a vast network of lenders and agents, the potential for growth is substantial.
Given its successful fundraising history, HomeLight is well-positioned for future funding rounds to support technological advancements and market expansion. However, the company may face challenges such as regulatory hurdles and competition from other proptech firms. Maintaining the reliability of its AI-driven solutions will be crucial as it scales.
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