Redfin Raises $70.9M in Funding

redfinRedfin, a Seattle, WA-based real estate brokerage, raised $70.9m in funding.

The round was led by Wellington Management Company, LLP, and Glynn Capital Management, LLC with participation from Brothers Brook, LLC, Annox Capital Management, Funds and accounts managed by T. Rowe Price Associates, Inc. and Tiger Global Management, LLC.

The company, which had previously raised $95m, intends to use the funds to continue to expand operations and development of new technology.

Led by CEO Glenn Kelman, Redfin provides real estate search and brokerage services through a combination of real estate web platforms and access to live agents.
It features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don’t pay brokers a commission and online tools that aim to make the entire process of buying or selling a home easier.

The company serves major markets across the U.S. and has closed nearly $20 billion in home sales.



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