real estate technology home light The company announced on Monday that it had raised $20 million to expand the offering of its “buy now, sell later” product to mortgage lenders and real estate agents in 40 new states.
Zev Venturesan early-stage venture fund that led a Series D extension and has joined three-dimensional capital and Menlo Ventures. according to tighten base HomeLight is estimated to have raised $762.5 million in 15 rounds of funding since its founding in 2012, with a total of 25 investors participating.
house line In June 2022, the company reportedly raised $115 million ($60 million in equity and $55 million in debt) while acquiring a Denver-based lending startup accept company.
This is the company’s third acquisition. In 2019, HomeLight acquired eavesa digital mortgage startup. The following year, it acquired disclosure.ioan innovative provider of go-to-market management tools.
Headquartered in Scottsdale, Arizona, HomeLight uses artificial intelligence (AI) to allow homebuyers to unlock up to 70% of the equity in their home to sell their existing property and purchase a new one.
HomeLight founder and CEO Drew Uher said the product “exceeded” the company’s expectations. In a statement, Uh noted that the company is “focused on developing tools and technology to solve the most difficult problems lenders currently face when closing transactions.”
A total of 40 lenders use the product, including loan shop and glow home loanThe feature is available in 46 states and Washington, D.C., according to HomeLight.
The company claims the product, offered by a network of more than 10,000 loan officers and 28,000 top real estate agents, has helped unlock more than $655 million in equity.
HomeLight has offices in Scottsdale, San Francisco, Dallas and Chicago. Its other investors include Group 11, Crosslink Capital, bullpen capital, Montage Investments, Citi Ventures and Google Ventures.
