Home365 raises $26 million
Real estate platform Home365 announced a Series B round of $26 million led by Viola Growth, with participation from Gatewood Capital Partners, Greensoil PropTech Ventures, lool ventures, North First Ventures, O.G. Tech Ventures, and Verizon Ventures.
Based in Silicon Valley with an R&D center in Tel-Aviv, Home365 describes itself as a “hybrid insuretech and property management company.” It currently manages $1.5b+ in investment assets across 7,000 properties in 17 cities and seven states. The startup helps investors through real estate investing education, acquisition of investment properties, day-to-day property management of the assets across multiple metros, and growing their portfolio over time while underwriting the performance of their assets.
When it comes to the insurance side of things, Home365 offers several services as part of the package including repairs and maintenance, preventative maintenance, and rent guarantee. Tenants are able to report maintenance and repair issues through the Home365 app and the company guarantees “quick attention and accountability.”
“Our goal is to democratize and “unlock the wealth” associated with real estate investing for everyone across the globe by removing the risks and hassles. In fact, we have introduced a new financial asset class that drives predictable and passive ROI as an alternative to any other way of passively saving. Our DNA as a company as well as our software is wired around managing people’s money and meeting their financial goals. Our model attracts not only professional Investors who embrace peace of mind but especially a new market segment of people who are interested in diversifying their cash into a real estate without the pains associated with being a landlord.” – Home365 founder and CEO Daniel Shaked.
“Home365 is bringing significant value to its clients that is wholly unique in the market, as demonstrated by our recent expansion rate of at least one new metro service area per month. Home365’s AI-driven platform was built from the ground up to be flexible, extensible, and above all scalable, fitting our plans to now expand into multiple new domestic metro areas in 2022 and beyond, while building international channels to attract real estate investors overseas.” – Chad Gallgher, Home365 chief investments and growth officer.
“Home 365 has brought an elegant technology solution to a traditional property management industry that is responsive to tenant and owner’s needs for capabilities long afforded to large investors and institutions. There are countless variables affecting real estate investments. Home365 is using advanced AI technology and its deep bench of expertise to control for as many of these uncertainties as possible, making real estate investment easier, more profitable, and ultimately more accessible than ever before.” – Rafi Carmeli, General Partner at Viola Growth.