Residential proptech company HomeLight announced $363 million of new funding, led by Zeev Ventures, with participation from Group 11, Stereo Capital, Menlo Ventures and Lydia Jett of the SoftBank Vision Fund.
The round includes $100 million of Series D equity and $263 million in debt financing to power HomeLight Cash Offer and HomeLight Trade-In operations, bringing HomeLight’s total funding to approximately $530 million to date.
The company will use the funding to accelerate the expansion of its technology platform for agents to new markets across the country. HomeLight also plans to continue hiring and will open new offices across the United States and globally.
“After decades of stagnation in our industry, how we buy and sell homes is fundamentally changing,” said Drew Uher, founder and CEO of HomeLight. “We’ve built the definitive platform that gives the best real estate agents and their clients the power of contingency-free transactions — whether that’s enabling an all-cash offer, unlocking liquidity of an existing home to buy a new one, or creating certainty through a modern closing process. We’ve proven that technology can help transform the transaction experience, and we couldn’t be more excited to bring that technology to top agents, homebuyers, and sellers everywhere.”
Since the company’s Series C raise in October 2019, HomeLight has: experienced sustained growth at approximately 3x year-over-year, with annual revenue set to triple to more than $300 million in 2021; grew the Trade-In and Cash Offer products by by more than 700% since their launch in January 2020 and grown the team by more than 180% year-over-year and expanded local operations to Texas, Florida, and Colorado.
