Roofstock has announced that it has closed on a $50 million Series D equity round. SVB Capital led the financing, leading a syndicate comprised of several new investors including Citi Ventures, Fort Ross Ventures and 7 Global Capital as well as prior round lead investors Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners and Canvas Ventures. This latest round brings the total amount of equity raised to $133 million.
According to Roofstock, the new funding will support the company’s continued growth, including investment 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 own tailored portfolios of single-family rental homes.
“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.”
SVB Capital, a division of SVB Financial Group, was selected to lead the round in part due to its interest in the promise of Roofstock One.
Founded in 2015, Roofstock has facilitated more than $2 billion in transaction volume through its marketplace to date, providing “all of the resources for investors to buy, own and sell real estate online, including data analytics, property management oversight and other tools.”
“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.”