HomeLight, a San Francisco, CA-based real estate platform, closed a $109m financing round.
The round includes $63m in Series C equity led by Zeev Ventures, with participation from Group 11, Menlo Ventures, Crosslink Capital, Stereo Capital, and others, and $46m in additional funds to accelerate mortgage operations.
The company intends to use the funds to expand its capabilities, including agent matching, title and escrow, iBuyer, and mortgage services.
Launched in 2012 by Drew Uher, CEO, HomeLight provides a real estate platform that aims to simplify the transaction process for homebuyers and sellers.
Through the use of proprietary machine-learning algorithms, HomeLight analyzes more than 40 million real estate transactions and over 1.4 million agent profiles from the nation’s leading brokerages for each individual transaction. To date, the company has driven over $17 billion of real estate business nationwide and, on average, connects a client to a real estate agent every two minutes.
In the past year, HomeLight has evolved and expanded its offerings. In January 2019, it launched the Agent Services division to provide Title and Escrow services to agents and home sellers and plans to expand to 30 markets in 2020. In February 2019, the company launched Simple Sale to match sellers with hundreds of iBuyers across the U.S. In 2020 and beyond, HomeLight will continue to expand its agent and investor matching platform, build consumer financial and lending products, and expand coverage of its transactional tools.