Growing customer demand fueled expansion into 13 new markets in 2017
OAKLAND, Calif. – Roofstock, the leading online marketplace for buying, owning and selling single-family rental (SFR) homes, announced today it has surpassed $1 billion in property transactions since the launch of its marketplace in early 2016. In addition, Roofstock announced that it has upsized its Series C funding round to accommodate demand from insiders and two new strategic investors, SVB Capital and Asia Pacific Land Ltd. The expanded Series C total is $42 million, representing a 20 percent increase over the initial round of $35 million, first announced in October 2017.
“Reaching this significant $1 billion milestone is an excellent finish to an already successful year,” said Gregor Watson, co-founder and chairman of Roofstock. “The company exceeded our aggressive business goals in 2017, and our recent funding round and upsizing will allow us to continue to expand our dynamic marketplace to new audiences.”
Reaching this notable milestone in transaction volume less than two years from launching classifies Roofstock as one of the fastest-growing fintech startups ever. The company also more than doubled its footprint of active markets in 2017 as well as its team of energized and dedicated employees.
“Since inception, Roofstock has focused on democratizing the SFR market by offering radical transparency, dramatic cost savings and state-of-the-art tools for investors of all kinds that were previously only available to large institutions,” said Gary Beasley, co-founder and chief executive officer of Roofstock. “We’re obviously encouraged by the early traction of our marketplace and are more optimistic than ever about our future as we continue to work to deliver relevant products and services to our growing community of marketplace customers.”
“We’re always looking to invest in companies like Roofstock that solve a real problem and bring innovation to massive sectors ripe for innovative solutions,” said Matt Harris, managing director, Bain Capital Ventures. “Roofstock’s incredible growth to date proves the team is onto something that really resonates with individual and institutional investors alike,” continued Harris.
To date, Roofstock has raised $75.25 million from notable venture firms and angel investors including Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, QED Investors, Nyca Partners, FJ Labs and SVB Capital.
Roofstock continues to cement its leadership position in the real estate, tech and investing industries and plans to continue its growth in 2018. The company will roll out multiple new markets and platform offerings in the coming months to provide investors with enhanced abilities to optimize their portfolios and continue to encourage new entrants to invest in SFR.
Headquartered in Oakland, California, Roofstock is the leading online marketplace for investing in single-family rental homes, with listings in 25 markets across the U.S. The company makes buying, owning and selling rental property efficient and transparent by offering detailed home and tenant information, local vetted property management options, as well as analytics and general market insights to help investors evaluate and purchase properties. The company stands behind its marketplace with a 30-day, Money-Back Guarantee. To learn more about Roofstock, visit: http://www.roofstock.com.