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Funding Fridays—Roofstock raises $240 million Series E at $1.9 billion valuation

Roofstock, the leading digital real estate investing platform for single-family rental (SFR) homes, has raised a $240 million Series E equity financing round led by Softbank.

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Roofstock is helping transform the $4 trillion fragmented, cottage industry of SFR home investing by levelling the playing field for investors to buy, manage, and sell investment real estate online with ease. Investors are given the ability to choose their own solutions to help accomplish their own personal investing goals and objectives.

Using a mix of growing service offerings and powerful data that powers its robust ecosystem, Roofstock has facilitated more than $5 billion in transaction volume to date.

Roofstock will use this latest round of funding to enhance Roofstock One—which allows investors to invest in a diversified portfolio of professionally-managed SFR homes for as little as $5,000; grow its property management services including analytics and financial services for landlords; and expand into other forms of real estate investing including the short-term rental properties.

Founded in 2015 and recently named to Forbes' list of America's Best Startup Employers 2022, Roofstock has raised over $400 million to date from investors such as Khosla Ventures—bringing the company’s total valuation to nearly $2 billion and minting the company as the latest proptech unicorn.

CEO Take: As an online real estate marketplace for investing in SFR homes, Roofstock provides its clients with a wealth of research, data analytics, and insights to help investors evaluate potential investments and ultimately facilitate end-to-end purchases.

In essence, Roofstock allows investors to treat their real estate investments like a stock portfolio with a close focus on asset allocation rather than just simply buying and selling vacant homes.

Roofstock’s valuation team uses a multi-source approach to developing valuations for properties—combining technology with appraisers to consider all factors when completing a property assessment.

They employ property data from a variety of sources including inspection reports and county records as well as underwriting information (not found on any MLS) to review property characteristics, property conditions, and sales history to perform a complete analysis on how a property will perform as a rental property to better help investors make an educated investment decision.

It's incredible to see yet another proptech startup reach that coveted unicorn status and there's no doubt that 2022 will be another massive year for Roofstock!

Congratulations to everyone at Roofstock and if you're ever in the market for a more accurate property data supplier to help assist with your automated valuation model (AVM), please consider us at Estated and click below to schedule a chat with us!

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About Estated: Estated is a leading property data provider with records on over 150 million residential and commercial properties nationwide across the United States. 

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