Roofstock, an Oakland, Calif.-based online marketplace for single-family rental home investing, closed a $35m in Series C financing.
The round was led by Canvas Ventures with participation from existing investors Lightspeed Venture Partners, Bain Capital Ventures, Khosla Ventures, Nyca Partners, QED Investors, and FJ Labs.
The company intends to use the funds to meet increased customer demand, expand into new markets, and accelerate development of features.
Led by Gary Beasley, co-founder and chief executive officer, Roofstock provides an online marketplace for single-family rental home investing offering investors transparency, data, and interactive planning tools to buy, own and sell single-family rentals.
As almost all of Roofstock properties already have tenants, buyers receive rental income from day one. Sellers benefit from lower commissions and the ability to continue to earn rental income up until the sale of the property, while avoiding the hassle and costs of vacating the property before the sale through traditional channels. Investors can also take advantage of a network of certified property managers to manage the property on a day-to-day basis and further separate operating from investing.
Roofstock recently added a number of features to enhance the platform’s user experience, including providing buyers access to interactive financial tools that allow them to model customized financial scenarios over the term of their investment, launched its proprietary, data-driven Roofstock Neighborhood Ratings that aids in purchase decisions across geographies and rolled out self-service features and tools for sellers, giving them the ability to optimize listing prices, manage offers and adding functionality to streamline the overall listing and sales process.