Opendoor Raises $80M in Series C Funding

Opendoor_logoOpendoor, a San Francisco, Calif.-based online marketplace for real estate, raised $80m in Series C funding.

Backers included Khosla Ventures, Access Venture Partners, GGV Capital, SVB Capital, and prior investors.

The company, which has raised more than $110m to date, intends to use the funds to launch in Dallas-Fort Worth, expand into other markets as well as to add staff to their data science, product engineering, and operations teams (read here).

Co-founded in March 2014 by Eric Wu, CEO, and Keith Rabois, Opendoor is a marketplace enabling local homeowners to instantly sell their home online.
The platform aims to streamline the home-selling experience by allowing homebuyers to visit homes themselves scheduling access via mobile, and purchase submitting an offer and complete the transaction online from their phone, tablet or mobile device.

Following Phoenix, the company has just launched in Dallas-Fort Worth, a market with nearly 5 million people in the metropolitan area and a median home price of $233,000, which is near the national average. Opendoor is also opening an office and hiring a local team for Dallas-Fort Worth.




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