Featured News

Roofstock Keeps Rocking Proptech Raising Another $240M

Oakland, California-based Roofstock announced last week raising Series E funding in the amount of $240 million.  This increases the single-family rental investment platform’s overall valuation to $1.94 billion. 

Gary Beasley speaking with attendees at the 2019 Arizona Technology Innovation Summit (Gage Skidmore)

Founded back in 2015, Roofstock has received significant trenches of funding from SoftBank Vision Fund 2, Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, Canvas Ventures, Citi Ventures, and a string of others. SoftBank led this most recent round for the highly successful company. To date, the proptech company has raised a total of $400 million. 

For those unfamiliar with Roofstock, the platform makes investing in single-family rental properties about as easy as investing in the stock market. The company basically curates an online marketplace of SFR and rental properties and gives buyers, and gives buyers all the tools to shop for and purchase them online. The platform helps potential investors overcome geographical and logistical barriers to investing in prime real estate.

The current portfolio of Roofstock includes more than 15,000 homes. The company has really broken loose as far as transactions of late are concerned, with more than $2.5 billion gleaned in the past year. Gary Beasley, CEO, and co-founder of Roofstock offered this via the company’s announcement: 

"There has never been a time quite like this for single-family real estate, and Roofstock is truly at the vanguard of making the market work for everyone. We're grateful for the continued support from our new and existing investors and stakeholders who share our vision to make this a modern, radically accessible asset class.”

Beasley went on to thank Roofstock’s new partners at SoftBank, and he attributed his company’s success to the all-in-one nature of the platform.  Roofstock runs off complex algorithms for predicting profitable purchases, fractional ownership opportunities, and property management services.

Roofstock’s co-founder is not a stranger to the startup world. Beasley also had success starting and launching two companies through IPOs: ZipRealty as CFO and Starwood Waypoint Residential Trust (now a part of Invitation Homes, the largest single-family rental home REIT in the United States).

In the current news, Roofstock says it plans to use the latest capital to expand its portfolio and staff, acquire other potential startups, increase its digital offerings for landlords and property management services and further explore proptech just gaining a foothold in the real estate space. 

Phil Butler

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.

Recent Posts

Launching Change in a Brokerage

Standing on the ocean’s edge just after dark in New Smyrna Beach, Florida earlier this…

31 mins ago

Top 7 Best Outdoor Cameras of 2023

If you want to track packages, watch for intruders, protect your kids, check on your…

6 hours ago

Revolutionizing Real Estate: Unveiling the Future with 6 Exciting Proptech Trends

If you are here, let's talk about something that's totally shaking up the real estate…

22 hours ago

Frequently Asked Questions about Buyers Agents in Real Estate

Are you wondering what to ask a buyer's agent before hiring them? Buyer agents play…

2 days ago

MeridianLink Survey Reveals Declining Confidence in Home Affordability

According to a survey by MeridianLink, one out of every three Americans have reduced confidence…

2 days ago

10 Clever Ways to Expand Your Sphere of Influence on a Limited Budget

Growing your sphere of influence doesn't require a big budget, but it will need a…

3 days ago