New Investment Round Allows Alfred to Meet Market Demand for Residential Services and In-Home Technology
NEW YORK--(BUSINESS WIRE)--Alfred, the leading end-to-end resident experience company, today announced that it closed on approximately $42 million in new Series C funding, with participation from its initial investor, Spark Capital, prior investors New Enterprise Associates (NEA) and Greystar, and new investor 166 2nd LLC, the family office of Adam Neumann. Currently serving over 100,000 homes in 20 markets across the United States, Alfred is now poised to capitalize on its momentum, strategically grow its team and operations, and capture market share at a time when demand for its in-home and domestic services is at a record high.
“COVID-19 has catalyzed change in consumer habits and technology use at an unprecedented pace for all of us, compelling a reexamination of how we interact with one another and placing a renewed emphasis on the importance of the home,” said Marcela Sapone, CEO & Co-Founder of Alfred. “These recent months have reinforced the values of connectivity and community investment that serve as a foundation for our company. This most recent raise provides us with the financing needed to grow in sync with the expanding in-home economy. We are grateful for the support of our investors, both existing and new, and the confidence they have placed in our strategy, platform, and vision.”
The success of this latest funding round is a testament to Alfred’s impact on the real estate industry over the past six years, pioneering new solutions for residential living with long-term investments in local entrepreneurship and neighborhood development. It is also a reflection of the company’s trajectory for growth in light of the rapidly increasing demand for residential services and in-home technology during the current global health crisis and beyond.
Alfred, also known as Hello Alfred, is an end-to-end resident experience and building management platform that is changing the way people live. Operating at the intersection of real estate and technology, Alfred builds personal and intuitive support into the most important space in our lives: our homes. Named by Fast Company as one of the Top 50 Most Innovative Companies in the World, Alfred has been recognized in The New York Times, The Financial Times, and Wall Street Journal as a pioneer in the on-demand economy following its decision to hire Alfred Home Managers as W-2 employees (complete with benefits, training, and the ability to move up in the organization) and its support of local ecosystems and neighborhood businesses. To learn more about Alfred visit www.helloalfred.com.
Stephanie Pillersdorf/Gloria Labbad/Columbia Clancy
Sard Verbinnen & Co