Roofstock raises $240M at $1.9B valuation to expand access to real estate investing

Leading electronic actual estate system surpasses $5B in transaction volume and announces programs to double workforce this yr

OAKLAND, Calif., March 10, 2022 /PRNewswire/ — Roofstock, the primary conclusion-to-end on line platform for single-spouse and children rental (SFR) investing, right now introduced it shut a $240 million Sequence E fairness funding round, bringing the company’s valuation to $1.94 billion. SoftBank Eyesight Fund 2 led the funding with participation from existing and new traders together with Khosla Ventures, Lightspeed Enterprise Associates, Bain Money Ventures, Canvas Ventures, Citi Ventures, To start with American Financial, Expanding Cash, 7GC & Co., JLL Spark, SVB Money, The Personal Shares Fund, Masco Ventures, Newton Investment Management North America, Pegasus Technologies Ventures, CAZ Investments, Going Capital (aka Uber Alumni Financial commitment Club) and DoorDash Angels.

Roofstock’s digitally enabled system is transforming the $4 trillion fragmented, cottage industry of solitary-spouse and children rental (SFR) property investing into an significantly suitable asset course. Equally personal and institutional traders are getting Roofstock’s expanding assistance choices and impressive knowledge which electrical power a robust ecosystem of SFR ownership and investing. With revenues nearly tripling year-above-12 months and organic investor system targeted visitors expanding even quicker, the corporation is in a period of hypergrowth at the epicenter of the quickly producing SFR financial commitment landscape. Considering that its founding, Roofstock has facilitated far more than $5 billion in transaction quantity, more than 50 % of which came from the previous yr by yourself, such as both of those unique trader transactions and some of the most considerable portfolio transactions by institutional proprietors in the sector.

“There has never been a time really like this for single-family members serious estate, and Roofstock is genuinely at the vanguard of building the market get the job done for everybody,” said Gary Beasley, CEO and co-founder of Roofstock. “We’re grateful for the continued assistance from our new and present traders and stakeholders who share our vision to make this a modern-day, radically accessible asset class. I could not be extra enthusiastic to welcome our partners from SoftBank to be part of us on this bold journey.”

“Actual estate is a big asset class that has been rather untouched by engineering, and is typically fragmented, analog and inefficient as a outcome. Roofstock makes obtaining and investing in rental residences seamless and accessible, and we saw a substantial option for the system, specifically as interest in the sector proceeds to mature,” explained Serena Dayal, Investment Director at SoftBank Investment Advisers. “We are psyched to partner with Gary and the group as the organization grows into a class leader and de facto resource for SFR traders.”

This funding spherical and Roofstock’s accelerating advancement and level of popularity demonstrate its major part in the long term of this asset class. The company is doubling down on its ambitions to innovate and go on the momentum it has observed from its broad selection of tech-forward expenditure products. Priorities include:

Bringing more field-main remedies to market: Roofstock will continue on to greatly enhance its Roofstock A single featuring to accredited investors. For as minor as $5,000, Roofstock 1 will make investment decision in SFR radically uncomplicated by enabling accredited investors to invest in a diversified portfolio of professionally managed SFR residences. The corporation is also investing to assist additional improve accessibility and liquidity in the SFR asset class. It a short while ago was recognized into the Cypher Accelerator software at the Stevens Center for Innovation in Finance at the University of Pennsylvania’s Wharton Faculty to enable accelerate its real estate tokenization initiative.
Doubling the Roofstock team: The corporation aims to double its team in 2022, including selecting throughout all roles from engineering and merchandise to marketing, analytics and functions. The corporation is also setting up out Roofstock Labs, its inside incubator for future-technology products and solutions and providers for the sector at massive.
Creating products and solutions and providers to enhance portfolios: With nearly 15,000 households by now under administration, Roofstock is one of the largest nationwide providers of third-bash SFR residence administration companies. The corporation ideas to extend its house management footprint, as effectively as improve its suite of providers for landlords to involve analytics and banking-associated companies by way of Stessa. In addition to filling these requirements for SFR buyers, Roofstock will speed up its expansion into other kinds of true estate investing, comparable to its recent growth into the developing shorter-expression rental market.
Strategic M&A: This spherical will help present money for supplemental strategic M&A on major of the a few former acquisitions the firm has accomplished due to the fact its inception, which include Streetlane Residences, Stessa, and Great Jones.

Roofstock is increasing swiftly at an opportune time for its prospects and associates, many thanks to the expansion and heightened curiosity in SFRs. Fueled by its exclusive working model and relationships, any person from the greatest worldwide asset managers who have no existence still in SFR, to the most significant establishments currently in the SFR place, to the particular person investor can make investments, manage and promote particular person homes or portfolios with relieve. Roofstock’s facts, platform and men and women permit all investors to opt for their personal methods and providers to go after their individualized financial commitment ambitions or targets.

In 2021, Roofstock managed more than $1 billion in buying and selling volume in just its portfolio buying and selling business, which is used by quite a few main institutions presently in SFR. Roofstock is also quickly scaling its Financial investment Solutions presenting, which enables institutional traders to leverage Roofstock’s whole-stack system to establish their very own bespoke SFR portfolios, for which Roofstock can also offer home administration. In 2021, this Roofstock division procured hundreds of residences on behalf of institutional shoppers, representing about $1.2 billion in property.

“Roofstock has designed the modern day authentic estate technologies and economic rails to unlock the substantial opportunity of this asset course for buyers everywhere you go,” explained Gregor Watson, co-founder and Chairman of Roofstock. “It has expanded beyond a marketplace for trading houses and has grow to be a essential platform for any individual on a journey to create prosperity by true estate.”

To discover more or to get began with Roofstock, make sure you go to roofstock.com.

About Roofstock

Roofstock is the primary digital genuine estate investing platform for the $4 trillion solitary-family members rental dwelling (SFR) sector. Its innovative engineering and application level the market’s actively playing discipline, generating it feasible for the two incumbents and new buyers to optimize prospects across the U.S. and know sizeable benefits in a custom-made, transparent digital knowledge. The enterprise supplies in depth methods for institutional and retail traders to get, handle, and provide financial commitment genuine estate on the web. Founded in 2015 and recently named to Forbes’ checklist of America’s Most effective Startup Businesses 2022, Roofstock has raised over $400 million from buyers this sort of as Khosla Ventures, Bain Money Ventures, Lightspeed Undertaking Associates, Canvas Ventures, SVB Cash and SoftBank Vision Fund 2. A recently-minted proptech “unicorn” with practically a $2 billion valuation, Roofstock has facilitated a lot more than $5 billion in transactions on its system to day.

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