SAN FRANCISCO — HomeLight, a marketplace for finding real estate professionals, has raised $11 million in Series A funding. The new capital, led by Zeev Ventures, and joined by Dovi Frances of SGVC, will give HomeLight the ability to enhance its data-driven product offering as the smartest new way to find a real estate agent. It brings the company’s total funding since inception to $15 million.
The Series A financing builds on an exceptional year for HomeLight, which has seen a rapid shift in how consumers think about real estate. The company has grown over 400% year over year.
“This past year served as further validation of our core thesis — that we have developed a smarter way to find a real estate agent,” said Drew Uher CEO and Founder of HomeLight. “Home transactions are the biggest financial decisions of most people’s lives, and our mission is to help those individuals find a trusted strategic advisor who can help guide them through the process. Our data-driven approach has already helped hundreds of individuals sell their home faster and for more money.”
Americans transact $1 trillion of residential real estate each year, yet only 10% of buyers find an agent online. HomeLight helps consumers find the agent best suited to their needs, by analyzing millions of residential home transactions across over two million agents and 200,000 brokerages nationally. Utilizing advanced data algorithms and machine learning techniques, the company evaluates dozens of variables to match home seller and buyers with the agent that best suits their needs. These variables include local neighborhood home sales, expertise in price range, time to sell, likelihood to close, and responsiveness.
“Consumers are already using data to make decisions about their health and many other daily activities, yet when it comes to buying or selling a home, one of the largest transactions of their lives, they are completely blind. They use antiquated methods of finding an agent like referrals from unqualified individuals,” said Oren Zeev of Zeev Ventures, who also was appointed to HomeLight’s board of directors. “HomeLight has created a new way for consumers to put the home transaction into the hands of the person that is most certified to support their needs, and this is an incredible innovation. I anticipate that within two to three years, people will use data to buy or sell their home – turning one of the most stressful times of their lives into one of the easiest, with new layers of trust and transparency.”
In addition to Zeev Ventures and SGVC, other participants in the round include Bullpen Capital, Montage Ventures, Krillion Ventures, Innovation Endeavors, Oren Dobronsky, and Yariv Davidovich.