Homeward, an Austin, TX-based real estate tech startup, secured $25M in initial funding.
– $4M of equity funding led by LiveOak Venture Partners and
– $21M of debt funding from Genesis Capital and Keystone Bank.
Founding team members of Opcity, ApartmentList, and a few other real estate tech startups also participated in the round.
The company intends to use the funds to expand its support teams and acquisition initiatives, as well as to improve its web and mobile customer experience to scale its initial product offering, The Homeward Way.
The company’s innovative business model enables customers to make all-cash offers to secure their next home prior to selling their existing home.
Led by Tim Heyl, founder and CEO, Homeward offers The Homeward Way, which gives homebuyers credit for their home equity up front, and lets them make an all-cash offer to secure their next home using the company’s funds. Customers also receive a floor price guarantee on their existing home in case they’re unable to sell it for its full market value.
Founded in 2018, the company is now expanding in Texas, Georgia and Colorado.