Under the agreement, Mynd will merge into the Roofstock corporate entity while continuing to conduct property management operations under the Mynd brand, according to a joint news release. Roofstock co-founder and CEO Gary Beasley will continue as CEO, while Mynd co-founder and CEO Doug Brien will serve as Roofstock president.
“By combining our complementary capabilities into a single platform, we will achieve greater scale and deliver greater value to our customers,” Beasley said in a statement. “Doug and I are passionate about technical support “Sharing a shared vision for data-driven investing and management will solidify Roofstock’s position as the premier end-to-end solution for SFR investors.”
Mynd receives $5 billion in licensing in 2021 Invesco Real Estate According to Bloomberg, approximately 20,000 single-family rental homes will be purchased in the United States over the next three years.
“Gary and I both believe the SFR market will grow exponentially, just like the multifamily market before it,” Bryan said in a statement. “Our combined platform will help by making SFR investing the same as other asset classes. confidence and precision to support this acceleration.”
Since its inception, Mynd has raised a total of $204.9 million in nine rounds of funding. In addition to the $5 billion deal in 2021, Invesco also led a $40 million funding round, valuing Mynd at about $300 million, according to Bloomberg. Meanwhile, Roofstock will be valued at nearly $2 billion by 2022.
The deal reunites Bryan and Beasley, who previously worked together to build waypoint homean early single-family rental aggregator that was eventually integrated into invitation home.
Beasley was selected as a 2020 HousingWire Pioneer, and Brien was selected as a 2022 Hardware Technology Trendsetter. Roofstock earned a spot on last year’s Inc. 5000 list of America’s fastest-growing companies Mynd expanded operations in 2019 with the acquisition of an investment management platform Family Lian.
