Roofstock, an Oakland, Calif.-based online marketplace and transaction platform operating in the single-family rental (SFR) sector, raised $20m in Series B funding.
The round was led by Lightspeed Venture Partners, with participation from existing investors Khosla Ventures, Bain Capital Ventures, Nyca Partners, QED Investors and SV Angel.
The company, which has raised a total of $33.25m since its formation in May of 2015, will use the proceeds to accelerate its national expansion, invest in product development, engineering and data science initiatives, roll out its asset management platform and broaden its reach to both domestic and global investors.
Led by Gary Beasley, co-founder and CEO, Roofstock is an online marketplace and community created for investing in leased single-family rental homes. The platform provides research, analytics and insights to evaluate and purchase independently certified properties. Listings include detailed inspection, valuation and title reports, as well as information about the tenants and local property managers who have been certified by Roofstock.
Since its public launch in March 2016, the company has expanded to serve 10 markets, engaging thousands of registered users.