Roofstock Raises $240M at $1.9B Valuation
Roofstock, the leading end-to-end online platform for single-family rental (SFR) investing, has raised $240 million Series E equity financing round, bringing the company’s valuation to $1.94 billion.
SoftBank Vision Fund 2 led the financing with participation from existing and new investors including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, Canvas Ventures, Citi Ventures, First American Financial, Expanding Capital, 7GC & Co., JLL Spark, SVB Capital, The Private Shares Fund, Masco Ventures, Newton Investment Management North America, Pegasus Tech Ventures, CAZ Investments, Moving Capital (aka Uber Alumni Investment Club) and DoorDash Angels.
Roofstock’s digitally enabled platform is transforming the $4 trillion fragmented, cottage industry of single-family rental (SFR) home investing into an increasingly relevant asset class. Both individual and institutional investors are discovering Roofstock’s growing service offerings and powerful data which power a robust ecosystem of SFR ownership and investing.
Gary Beasley, CEO and co-founder of Roofstock
“There has never been a time quite like this for single-family real estate, and Roofstock is truly at the vanguard of making the market work for everyone.” “We’re grateful for the continued support from our new and existing investors and stakeholders who share our vision to make this a modern, radically accessible asset class. I could not be more excited to welcome our partners from SoftBank to join us on this ambitious journey.”
Serena Dayal, Investment Director at SoftBank Investment Advisers
“Real estate is a huge asset class that has been relatively untouched by technology, and is often fragmented, analog and inefficient as a result. Roofstock makes buying and investing in rental homes seamlessly and accessible, and we saw a huge opportunity for the platform, particularly as interest in the sector continues to grow.” “We are excited to partner with Gary and the team as the company grows into a category leader and de facto resource for SFR investors.”
This funding round and Roofstock’s accelerating growth and popularity demonstrate its leading role in the future of this asset class. The company is doubling down on its ambitions to innovate and continue the momentum it has seen from its wide range of tech-forward investment products. Priorities include:
- Bringing more industry-leading solutions to market: Roofstock will continue to enhance its Roofstock One offering to accredited investors.
- Doubling the Roofstock team: The company aims to double its team in 2022, including hiring across all roles from engineering and product to marketing, analytics and operations. The company is also building out Roofstock Labs, its internal incubator for next-generation products and services for the industry at large.
- Developing products and services to optimize portfolios: With nearly 15,000 homes already under management, Roofstock is one of the largest national providers of third-party SFR property management services.
- Strategic M&A: This round helps provide capital for additional strategic M&A on top of the three previous acquisitions the company has completed since its inception, which include Streetlane Homes, Stessa, and Great Jones.
“Roofstock has built the modern real estate technology and financial rails to unlock the massive potential of this asset class for investors everywhere,” said Gregor Watson, co-founder and Chairman of Roofstock. “It has expanded beyond a marketplace for trading homes and has become a critical platform for anyone on a journey to generate wealth through real estate.”
About Roofstock
Roofstock is the leading digital real estate investing platform for the $4 trillion single-family rental home (SFR) sector. Its innovative technology and software level the market’s playing field, making it possible for both incumbents and new investors to maximize opportunities across the U.S. and realize substantial rewards in a customized, transparent digital experience.
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