Orchard, a NYC-based home buying and selling company, raised $100m in Series D funding at over a $1 billion valuation.
The round was led by Accomplice with participation from existing investors FirstMark, Revolution, First American, Juxtapose and a syndicate of new investors.
The company, which has raised $255m in total equity funding, intends to use the capital to expand to four new markets in 2022 and launch new services.
Led by Court Cunningham, CEO and co-founder, Orchard aims to simplify the home buying and selling experience from search to close by leveraging a “buy before you sell” model: after enabling the customer to move into their new home, Orchard sells their old home. Orchard’s products and services include an AI-powered home search and a vertically-integrated platform, Home Loans, Title, and Insurance, offering an all-digital closing for customers.
Orchard is headquartered in New York City and offers its services in Colorado, Georgia, Texas, North Carolina, Maryland and Virginia.
In addition to its funding round, Christa Quarles will be joining Orchard’s board of directors in October 2021. Quarles is the CEO of Corel Corporation and has more than two decades of experience in leading and advising companies across multiple operational disciplines including consumer internet, fintech, and marketplace business models. Prior to joining Corel, she served as CEO of OpenTable. Previously, Quarles served as Chief Business Officer of Nextdoor, a marketplace connecting local communities to small businesses, and SVP and GM of The Walt Disney Company’s online gaming division.
Founded in New York City just four years ago, Orchard now has more than 500 employees across the country.
FinSMEs
09/09/2021