Real estate technology company HomeLight, which helps consumers find the perfect real estate agent, as well as fashion all-cash deals and trade-ins, has secured $ 100 million in a Series D financing round. The round raises the company’s valuation to $ 1.6 billion, turning it into something called a unicorn.
The round brings the company’s total funding to approximately $ 530 million.
HomeLight was founded in 2012 and is essentially a recommendation platform for real estate agents. As Inman reported in December, real estate agents pay a finder fee of 25 percent from agent to agent when they close through the platform.
HomeLight’s platform enables its users to speak to multiple agents in their market before deciding on one. It uses a proprietary internal algorithm to pair them. In addition to recommendations, the platform also offers a variety of services, including HomeLight Trade-In and HomeLight Cash Offer.
According to the company’s press release, the most recent funding round was led by Zeev Ventures. Other participants were Group 11, STCAP, Menlo Ventures and Lydia Jett from the SoftBank Vision Fund.
“After decades of stagnation in our industry, the way we buy and sell homes is fundamentally changing,” said Drew Uher, Founder and CEO of HomeLight, in the press release. “We have created the definitive platform that gives the best real estate agents and their clients the ability to conduct failure-free transactions – be it to enable a pure cash offer, to free up the liquidity of an existing home for the purchase of a new home, or to create security through a modern locking process. We have proven that technology can help transform the transactional experience and we are thrilled to be making this technology available to top agents, home buyers and sellers everywhere. “
HomeLight will use the funding from the funding round to expand its agent platform into new markets, according to the press release. The company currently has offices in Scottsdale, San Francisco, New York and Seattle.
“When I first ran HomeLight’s Series A in 2015, I firmly believed in the team’s vision of making real estate simpler, safer and more satisfying for everyone,” Oren Zeev, founding partner at Zeev Ventures, said in the press release. “Today HomeLight has kept that promise and more. I’m proud to help you shape the future of real estate transactions. “
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