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Side raises $50M at $2.5B valuation

Side is an upcoming star in the world of real estate in California.

side-site

It has constantly been aiming at boutique-brand creation of real estate staff like independent brokerages and property agents. Where they were just working professionals earlier, Side helped them create and own their real estate business.

Side Inc had raised $150 million and achieved Unicorn Status in the world of real estate tech startups.

This Series D funding came chiefly from Coatue Management apart from other investors like Trinity Ventures, Matrix Ventures, and Sapphire Ventures. Any startup reaching the $1 billion mark in revenue achieves Unicorn Status. In fact, Side Inc is the only company to date in the world of real estate to achieve it.

Launched in 2017, this prolific startup runs its operations on the ground reality premise that real estate agents are usually underserved. They deserve better technological support when going it alone. 

Side Inc's core philosophy is to work for those who work for it.

Its approach is to help agents and independent brokerages – that human foundation of real estate without which it is meaningless – transition from just providing a service to owning their businesses, where owning means full charge over and technological support of every aspect of their day-to-day life functioning.

This tech real estate startup has raised additional capital of $50 million as of June end this year. This is at a base valuation of $2.5 billion at that time. With this valuation, the company has more than doubled its worth. Currently, this startup company is in the process of launching an IPO.

Series C and Series D funding are among the 4 stages of injecting seed capital into a new business or a new channel of business growth. After just about 4 years of existence, Side is already looking at the announcement of an IPO after having undergone Series D level funding.

Real Estate 38, Prosper, Province, Platinum One, Pacific Plains, Own, Remark and Redefine are only those few among so many other clients that have been together with Side Inc in this journey.

debby-beck

Debbie Beck is at the helm of Platinum One Real Estate Group, CA, and to date can boast of $250 million and more in sales.

Then there is Alex Wang of Rainmaker Real Estate, who has partnered with Side Inc since June last year and has been there throughout this financial journey. Redefine, owned by Christina Khosrowabadi, generated $37 million in sales in 2019. In essence, these are all teams that have worked seamlessly and reached the milestone of Side Inc's $2.5 billion net worth as of today.

Side Inc essentially began by creating viable, successful businesses and by primary real estate staff.

These agents, independent brokerages, and teams were high performers in themselves, extremely good at the business. Side offers such resourceful agents and brokerages sole technological solutions that help them grow and be more productive. This helps them serve their clients without the hassle and with more positive incentives overall. Side lays polite claim to this fact – empowering agents and independent brokerages as successful businessmen – as being its unique selling proposition.

To quote their website,

the entire Side crew walks the walk and talks the talk.


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