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HomeLight Raises $363 Million to Fuel Rapid Expansion; Valuation Reaches $1.6 Billion

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On the heels of 3x year-over-year growth, funding will fuel expansion of technology platform and financial products across the country

SAN FRANCISCO, Sept. 2, 2021 /PRNewswire-PRWeb/ -- Today, HomeLight, the real estate technology platform that empowers top real estate agents to deliver better outcomes to homebuyers and sellers, announced $363 million of new funding. The round was led by Zeev Ventures, with participation from Group 11, STCAP, 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.

HomeLight will use the funding to accelerate the expansion of its technology platform for agents, including its flagship financial products, HomeLight Trade-In™ and HomeLight Cash Offer™, 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.

  • Doubled down on its flagship financial products, HomeLight Trade-In™ and HomeLight Cash Offer™, growing the products by more than 700% since their launch in January 2020.

  • Grown the team by more than 180% year-over-year and expanded local operations to Texas, Florida, and Colorado.

  • Appointed Sean Aggarwal, the Chairman of Lyft, Inc. and former Chief Financial Officer of Trulia, to its board.

"When I first led HomeLight's Series A in 2015, I believed deeply in the team's vision of making real estate simpler, more certain, and satisfying for everyone involved," said Oren Zeev, Founding Partner at Zeev Ventures. "Today, HomeLight has delivered on that promise and more. I'm proud to support them as they build the future of real estate transactions."

To learn more about HomeLight or sign up, visit: http://www.homelight.com

About HomeLight

HomeLight is building the future of real estate — today. Our vision is a world where every real estate transaction is simple, certain, and satisfying for all.

The best real estate agents rely on HomeLight's platform to deliver better outcomes to homebuyers and sellers during every step of the real estate journey, whether that's enabling an all-cash offer, unlocking liquidity of their existing home to buy a new one, or creating certainty through a modern closing process. Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.

Founded in 2012, HomeLight is a privately held company with offices in Scottsdale, San Francisco, New York, and Seattle, with backing from prominent investors including Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures, Stereo Capital, Citi Ventures, Google Ventures, and others.

For additional information and images: homelight.com/press

Contact:
Annie Dreshfield
Director of Strategic Communications, HomeLight
annie@homelight.com

SOURCE HomeLight