Tech-enabled homebuilder Homebound has raised $75m in Series C funding in a round led by Khosla.
According to a report by TechCrunch the PropTech also secured “hundreds of millions” in debt from Goldman Sachs. The raise brings the company’s total equity haul to $148m since its inception.
Homebound, which started out to help people rebuild their houses after the destruction of Californian wildfires, describes its mission as serving a “next gen” homebuilder to make it possible “for anyone, anywhere to build a home” by using “streamlined, tech-enabled building” to make customer homebuilding an option for local homeowners.
The company starts by helping a potential homeowner identify land they want to build on, or helping them find a lot among the inventory Homebound has already built up. From there, it can help with everything from architectural plans to design to actual construction via its platform. Homebound offers a set of plans for people to choose from, with varying levels of customisation.
The startup says it will use its new capital to scale rapidly across new markets in the US, starting with Dallas, Houston and Denver. Homebound said it will also continue to invest “heavily” in building a proprietary technology platform to “combat the drastic supply/demand imbalance” that exists in cities.
Nikki Pechet, CEO and co-founder of Homebound, said, “We realised what we were facing in Austin and other markets across the country was a different kind of disaster, which is a historic housing shortage being compounded by record migration to a bunch of cities around the country that had some of the worst shortages in the country already going into this migration.”
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