Austin-based Real estate startup Homeward has landed $371 million in funding to grow its business, meet demand and expand into new markets.
Homeward said it has received $136 million in equity funding, led by Norwest Venture Partners and with participation from Blackstone, Austin’s Breyer Capital, along with existing investors Adams Street, Javelin and LiveOak Venture Partners.
The company said it has also raised $235 million in debt financing.
Homeward was founded in 2018 by CEO Tim Heyl, who also founded Heyl Group, an Austin-based real estate brokerage. The company s platform helps users buy and sell their homes and currently operates in Texas, Georgia, and Colorado.
Real Estate Startup Homeward Raises $371 Million, Landing Valuation Above $800 Million
Homeward
Real estate financing startup Homeward completed a $371 Million Series B round that values the three-year-old business at more than $800 million. The round, which included $136 million of equity funding and $235 million in debt financing, comes as continued demand for housing has led to a boom in all-cash offers.
Similar to i-buying firm Opendoor, the startups Ribbon and Accept.inc and a host of other new companies, Homeward provides cash to buyers so they can submit the most competitive possible offers, or buy a new property prior to selling their existing home.
Homeward, a startup that helps consumers make cash offers on houses, announced today that it has raised $371 million in new funding.
The new funding is split between $136 million in equity and $235 million in debt, according to a company statement. The statement adds that Homeward will use the new funding to expand the scale of its core business, which involves making cash offers on behalf of consumers.
Tim Heyl
“We anticipated cash offers becoming standard a few years ago,” company founder and CEO Tim Heyl said in the statement. “We designed our cash offer in a way that enables agents to make every buyer a cash buyer. Our instincts were right that’s obvious from the tremendous demand we’re seeing today.”
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