HomeLight scores $109m to support ambitious growth plans

HomeLight, a platform easing real estate transactions, has scored $109m in new financing to support market expansion.

The funding was led by Zeev Ventures, with participation from Group 11, Menlo Ventures, Crosslink Capital, Stereo Capital, and more. Of the $109m, $63m was raised through Series C equity and $46m were in additional funds to fuel mortgage operations.

Launched in 2012, HomeLight was created to transform the way in which people buy and sell homes by making them simpler. Its technology analyses more than 40 million real estate transactions and more than 1.4 million agent profiles from the US’ brokerage firms to help consumers find the best prices or properties for users.

Over the next year, the PropTech solution aims to expand its agent and investor matching platform, build consumer financial and lending products, and expand coverage of best-in-class transactional tools.

Group 11 founding partner Dovi Frances said, “We’ve been part of HomeLight since their seed stage and have been proud investors in each round since. HomeLight has innovation on its side, and a seven-year head start on other companies in the ProTech space hoping to monetize agent referrals.

“It’s the only consumer-centric, one-stop-shop marketplace for real estate needs, and we think the sky’s the limit for HomeLight’s future growth.”

Earlier in the year, the company released its Agent Services division to provide agents and home sellers access to title and escrow services. Plans are to expand this into 30 markets across 2020.

The PropTech also released its Simple Sell solution this year, which helps match sellers with hundreds of buyers across the US.

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