Total amount raised
$1.9 Billions
Latest funding date
9/1/2023
Location
Opendoor has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform simplifies the home buying and selling process, offering users a seamless experience.
Keep reading to delve into the details of Opendoor's funding journey and the investors who believe in its vision.
What Is Opendoor?
Opendoor, founded in 2014 in Tempe, Arizona, is a real estate technology company that simplifies the home buying and selling process. The company was established by Eric Wu, Ian Wong, and JD Ross.
Opendoor offers a seamless experience for sellers to receive offers without listing or showing their homes, and for buyers to browse and instantly unlock homes using the company's app. This innovative approach has attracted a workforce of 1001-5000 employees.
By leveraging technology, Opendoor aims to make real estate transactions more efficient and less stressful for all parties involved.
How Much Funding Has Opendoor Raised?
- Series B
- Amount Raised: $20M
- Date: February 2015
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $80M
- Date: October 2015
- Lead Investors: Access Technology Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enter new markets.
- Series D
- Amount Raised: $210M
- Date: December 2016
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and expand market presence.
- Debt Financing
- Amount Raised: $135M
- Date: January 2018
- Lead Investors: Lennar Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and property acquisitions.
- Series E
- Amount Raised: $325M
- Date: June 2018
- Lead Investors: Access Technology Ventures, General Atlantic, Lennar Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand into new markets.
- Series E
- Amount Raised: $400M
- Date: September 2018
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and technological advancements.
- Series E
- Amount Raised: $300M
- Date: March 2019
- Lead Investors: General Atlantic
- Valuation at Round: $3.8B
- Motivation Behind the Round: To support business model and market expansion.
- Post-IPO Equity
- Amount Raised: $400M
- Date: September 2020
- Lead Investors: BlackRock, Healthcare of Ontario Pension Plan (HOOPP)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support growth initiatives.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position post-IPO.
- Post-IPO Secondary
- Amount Raised: $2M
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Opendoor has raised a total of $2.172B. The most recent valuation is $3.8B.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is the world's largest asset manager, with over $9 trillion in assets under management.
- Investment Focus Areas: Technology, Real Estate, Healthcare
- Notable Investments: Apple, Microsoft, Amazon
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Group. It focuses on investing in technology companies that are poised for significant growth.
- Investment Focus Areas: Technology, Artificial Intelligence, Robotics
- Notable Investments: Uber, WeWork, Slack
- General Atlantic
- Details: General Atlantic is a global growth equity firm that provides capital and strategic support for growth companies. It has a strong presence in various sectors and regions.
- Investment Focus Areas: Technology, Financial Services, Healthcare
- Notable Investments: Airbnb, Alibaba, Uber
- Access Technology Ventures
- Details: Access Technology Ventures is the venture capital and growth technology investment arm of Access Industries. It focuses on investing in transformative technology companies.
- Investment Focus Areas: Technology, Media, Telecommunications
- Notable Investments: Spotify, Alibaba
- Lennar Corporation
- Details: Lennar Corporation is one of the largest homebuilders in the United States. It is involved in the construction and sale of single-family homes, townhomes, and condominiums.
- Investment Focus Areas: Real Estate, Homebuilding, Property Development
- Notable Investments: Primarily involved in homebuilding projects
What's Next for Opendoor?
Opendoor stands at the cusp of significant opportunities, poised to disrupt the traditional real estate market by leveraging data modeling to identify market gaps and price properties accurately. With a valuation of $3.8 billion and substantial investor interest, the company is well-positioned to expand its market presence and integrate additional services like mortgage tools and contractor services.
Future fundraising opportunities appear promising, given the strong investor confidence and the company's innovative approach. However, challenges such as navigating potential market downturns and ensuring the accuracy of data models remain. As Opendoor continues to grow, its ability to manage these risks will be crucial for sustained success.
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