Total amount raised
$472 Millions
Latest funding date
9/1/2021
Location
Orchard has successfully raised significant funding over multiple rounds, with its latest being a Series D. The platform offers a unique real estate solution, allowing users to buy their next home before selling their current one.
Keep reading to explore the intricacies of Orchard's fundraising journey and the investors backing this innovative platform.
What Is Orchard?
Orchard, founded in 2017 by Court Cunningham and Phil DeGisi, is a real estate firm based in New York, New York. The company specializes in helping customers buy their next home before selling their current one, offering a seamless and stress-free experience.
With a workforce of 251-500 employees, Orchard provides a range of services including guaranteed home sales, price-boosting repairs, and the ability to skip home showings. Their innovative approach aims to simplify the home buying and selling process.
Orchard operates in multiple cities across the United States, ensuring that their unique real estate solutions are accessible to a wide audience. Their commitment to customer satisfaction and innovative services sets them apart in the real estate industry.
How Much Funding Has Orchard Raised?
- Series A
- Amount Raised: $10M
- Date: May 2018
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offerings and expand their market presence.
- Debt Financing
- Amount Raised: $20M
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and provide liquidity for their buy-before-sell model.
- Series B
- Amount Raised: $20M
- Date: April 2019
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their service offerings.
- Debt Financing
- Amount Raised: $200M
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional liquidity for their home buying and selling services.
- Series B
- Amount Raised: $36M
- Date: January 2020
- Lead Investors: Navitas Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand their market reach and improve their technology platform.
- Series C
- Amount Raised: $86M
- Date: September 2020
- Lead Investors: Revolution Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series D
- Amount Raised: $100M
- Date: September 2021
- Lead Investors: Accomplice
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand into four new markets and introduce new services, including an offer management tool.
Total Amount Raised: $272M
Current Valuation: Over $1 billion
Key Investors
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. They have been part of the origin story of several successful companies.
- Investment Focus Areas: Technology, internet, fintech, marketplace business models.
- Notable Investments: AngelList, Carbon Black, DraftKings.
- FirstMark
- Details: FirstMark is a venture capital firm that invests in technology companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Pinterest, Shopify, Riot Games.
- Revolution
- Details: Revolution is a venture capital firm that focuses on companies outside of traditional tech hubs. They aim to transform traditional industries through innovation.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Sweetgreen, DraftKings, Zipline.
- First American
- Details: First American is a financial services company that provides title insurance and settlement services. They are a leader in the real estate industry.
- Investment Focus Areas: Real estate, title insurance, settlement services.
- Notable Investments: Not publicly disclosed.
- Juxtapose
- Details: Juxtapose is a venture capital firm that partners with entrepreneurs to build category-defining companies. They focus on long-term growth and innovation.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Orchard?
Orchard is poised for significant growth as it expands into four new markets in 2022 and introduces innovative services like an offer management tool. The company has already tripled its revenue and doubled its footprint, indicating a robust opportunity to dominate the home buying and selling market.
Future fundraising seems inevitable as Orchard continues to scale, with an IPO on the horizon. However, the company will face challenges such as intense competition from other proptech startups and traditional real estate brokers. Maintaining innovation and customer satisfaction will be crucial as they navigate market fluctuations and economic conditions.
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