HomeLight

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HomeLight
IndustryReal estate
Founded2012; 12 years ago (2012)
FounderDrew Uher, CEO
HeadquartersScottsdale, Arizona
ServicesBrokerage Services
Websitewww.homelight.com

HomeLight is a real estate technology company[1] founded in San Francisco, CA and based in Scottsdale, AZ.[2]

Its products and services include an online platform for matching real-estate agencies with buyers and sellers,[3] making cash offers to buy houses and, connecting sellers with buyers willing to make quick cash offers.[4]

History[edit]

HomeLight was founded in 2012 by Drew Uher, the company's CEO,[5][6][7] after he and his wife had difficulty researching agents based on needs or qualifications.[6] The business, which was originally aimed at buyers, focuses on sellers.[8]

In February 2015, the company received $3 million in funding led by Bullpen Ventures, with participation from Montage Ventures, Crosslink Capital, Krillion Ventures, 500 Startups, and Western Technology Investment.[9][10] The company has seen growth while increasing funding and engaging in mergers and acquisitions:

  • 2016 HomeLight received $11 million in funding from Zeev Ventures, and Group 11.[11]
  • 2017 The company had raised a total of $15.5 million from investors.[5] In August, HomeLight raised $40 million in Series B funding in a round led by Menlo Ventures with participation from Citi Ventures,[5][12] as well as previous investors Zeev Ventures, Group 11, Crosslink Capital, and Innovation Endeavors.[6]
  • 2018 In January, HomeLight announced a partnership with Yelp to add data from HomeLight's algorithm to Yelp's Home Services listings.[13]
  • 2019 In July, HomeLight acquired Eave, a digital mortgage startup. [14] In November HomeLight secured a total of $160 million from Zeev Ventures, Group 11, Menlo Ventures, Crosslink Capital, Stereo Capital, and others.[15]
  • 2020 In August, the company acquired Disclosures.io and introduced a new service to assist real estate agents called HomeLight Listing Management.[16]
  • 2021 HomeLight partnered with the National Association of Real Estate Brokers to launch the Black Real Estate Agent Program, which provides stipends and mentorship for aspiring African-American real estate professionals to help them start their careers in the industry.[17] In early September, HomeLight was valued at $1.6 billion.[18]

Products and services[edit]

HomeLight's algorithm ranks agents according to data including sales and agent records from over 100 sources and approximately 30 million transactions nationwide.[5][7] The algorithm ranks agents by price range, neighborhood, property type and experience level.[19][9]

References[edit]

  1. ^ Friedman, Nicole (10 March 2022). "Looking to Buy a House? Try Throwing in Free Frozen Yogurt, Concert Tickets". Wall Street Journal. Retrieved 16 March 2022.
  2. ^ Calvey, Mark (24 August 2021). "HomeLight is hitting the road — in more ways than one". San Francisco Business Times. Retrieved 16 February 2022.
  3. ^ Lerner, Michelle (12 February 2019). "Two new online services are like Priceline.com for home sellers". Washington Post. Retrieved 18 January 2022.
  4. ^ Bahney, Anna (2 June 2021). "All-cash offers are king in this hysterical real estate market. Here's what you need to know". CNN. Retrieved 11 January 2022.
  5. ^ a b c d Ryan Lawler (August 15, 2017). "Homelight raises $40 million to help home sellers find the best real estate agents". Tech Crunch.
  6. ^ a b c Barzilay, Omri (August 15, 2017). "HomeLight Raises $40M In Series B Funding To Help You Find A Listing Agent". Forbes.
  7. ^ a b Martin, Susan Taylor (December 28, 2017). "Do seller-Realtor matching services work? We put two to the test". TBO.
  8. ^ Dryburgh, Alastair (January 6, 2018). "Don't Disrupt; Work With Existing Forces". Forbes.
  9. ^ a b Ha, Anthony (February 4, 2015). "HomeLight Raises $3M More To Help Homebuyers And Sellers Find Real Estate Agents". Tech Crunch.
  10. ^ Shallit, Bob. "Real estate matchmaker identifies top Sacramento agents based on data". The Sacramento Bee.
  11. ^ Nanclare, Sindy (April 18, 2016). "Real estate marketplace HomeLight closes $11 million deal". Venture Beat.
  12. ^ Li, Roland (August 15, 2017). "S.F. startup raises $40 million to rank residential real estate brokers". San Francisco Business Times.
  13. ^ "HomeLight Partners with Yelp to Provide Data-Driven Insights on Real Estate Agents". Business Wire. January 9, 2018.
  14. ^ "HomeLight Acquires Eave, a Digital Mortgage Lender, to Launch Mortgage Services in 6 U.S. States". finance.yahoo.com. Yahoo!. Retrieved 2020-05-05.
  15. ^ "HomeLight raises $109 million for AI that matches home buyers with real estate agents". Venture Beat. 2019-11-05. Retrieved 2020-05-05.
  16. ^ Azevedo, Mary Ann (2 September 2021). "HomeLight closes on $100M Series D at a $1.6B valuation as revenue surges". TechCrunch. Retrieved 16 March 2022.
  17. ^ Kamin, Debra (17 August 2021). "Real Estate Industry Works to Change Its Ways". The New York Times. Retrieved 10 January 2022.
  18. ^ "HomeLight Nabs $1.6 Billion Valuation in Zeev Ventures-Led Round". Bloomberg. 2 September 2021. Retrieved 10 January 2022.
  19. ^ O'Dell, J. (November 14, 2012). "HomeLight aims to change the real estate business with Google funding". Venture Beat.
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