Roofstock raises $240 million
End-to-end online platform for single-family rental investing Roofstock closed a $240 million Series E equity financing round, bringing the company’s valuation to $1.94 billion. SoftBank Vision Fund 2 led the financing with participation from existing and new investors including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, Canvas Ventures, Citi Ventures, First American Financial, Expanding Capital, 7GC & Co., JLL Spark, SVB Capital, The Private Shares Fund, Masco Ventures, Newton Investment Management North America, Pegasus Tech Ventures, CAZ Investments, Moving Capital and DoorDash Angels.
Founded in 2015, the California-based startup offers resources for institutional and retail investors to buy, manage, and sell investment real estate online. Roofstock’s offerings include a marketplace for buyers and sellers, Roofstock One, a portfolio of professionally managed SFR homes, and Roofstock Platform Services, a solution for large investors to build or scale their portfolios.
Last month, Obie and Roofstock announced a partnership.
“There has never been a time quite like this for single-family real estate, and Roofstock is truly at the vanguard of making the market work for everyone. We’re grateful for the continued support from our new and existing investors and stakeholders who share our vision to make this a modern, radically accessible asset class. I could not be more excited to welcome our partners from SoftBank to join us on this ambitious journey.” – Gary Beasley, CEO and co-founder of Roofstock.
“Real estate is a huge asset class that has been relatively untouched by technology, and is often fragmented, analog and inefficient as a result. Roofstock makes buying and investing in rental homes seamless and accessible, and we saw a huge opportunity for the platform, particularly as interest in the sector continues to grow. We are excited to partner with Gary and the team as the company grows into a category leader and de facto resource for SFR investors.” – Serena Dayal, investment director at SoftBank Investment Advisers.
“Roofstock has built the modern real estate technology and financial rails to unlock the massive potential of this asset class for investors everywhere. It has expanded beyond a marketplace for trading homes and has become a critical platform for anyone on a journey to generate wealth through real estate.” – Gregor Watson, co-founder and Chairman of Roofstock.