Roofstock provides users access to vibrant market and neighborhood data, combined with powerful analytical tools that make it easy to compare and contrast different investment properties across the country.
FREMONT, CA: Leading online marketplace for investments in the single-family rental sector Roofstock raised USD 50 million in a Series D equity funding round led by SVB Capital, with participation from new investors Citi Ventures, Fort Ross Ventures, and 7 Global Capital, as well as existing investors Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, and Canvas Ventures. With this new funding round, the company's total raised capital stands at USD 133 million.
"Roofstock makes it easy for anyone, no matter where they live, to add real estate to their investing strategy, with minimal overhead and no prior knowledge needed," said Gary Beasley, CEO, and Co-Founder of Roofstock. "This funding is a validation of our work to lower the barriers to entry and level the playing field for real estate investing. Roofstock gives individual investors the same level of information, access, and operational support that used to be available only for large institutions."
The newly raised fund will be used to support the company's continued growth, which includes investments in its data science, product, and engineering capabilities, expanding its retail supply and distribution network and rolling out Roofstock Platform Services, the company's latest service which lets institutional investors build their tailored portfolios of single-family rental homes. Roofstock offers solutions that make it easy for investors of all sizes to buy, own, and sell investment properties at a fraction of the cost and with much less friction than historically has been the norm. The company provides users access to vibrant market and neighborhood data, combined with powerful analytical tools that make it easy to compare and contrast different investment properties across the country.
"Roofstock is in the vanguard of the rapidly-growing proptech space," said Sulu Mamdani, Managing Partner of SVB Capital. "As startups continue to broaden access to financial services, we see real estate as an incredibly attractive asset class for retail investors looking to go beyond the typical stock and bond portfolio." The division of the SVB Financial Group was selected to lead the round in part due to its interest in the promise of Roofstock One, which offers shares in fully managed investment homes for as low as USD 5,000 per share.