Homeward lands $120M Series D as home sales slow
What's the deal? Homeward has raised US$77.6M Series D equity round to expand its cash-offer and bridge financing products for US homeowners. Saluda GradeDealroom has a profile for this one. Try Dealroom → led the round, which also secured $330 million in asset-backed debt facilities.
Who's in? Continental General Insurance CompanyDealroom has a profile for this one. Try Dealroom →, Citi VenturesDealroom has a profile for this one. Try Dealroom →, MagnetarDealroom has a profile for this one. Try Dealroom →, Norwest, Harmony PartnersDealroom has a profile for this one. Try Dealroom →, Adams Street Partners, LiveOak VenturesDealroom has a profile for this one. Try Dealroom →, Parker89Dealroom has a profile for this one. Try Dealroom →, Era VenturesDealroom has a profile for this one. Try Dealroom →, and Javelin Venture PartnersDealroom has a profile for this one. Try Dealroom → joined. The round lifts Homeward's total equity raised to $360 million since 2018.
What does it do? The Austin-based startup helps homeowners manage the timing of buying and selling. Its products remove home-sale contingencies, provide faster access to equity, and let owners make cash-backed offers before refinancing into a mortgage.
Why now? Homeowners face longer selling periods as the housing market stalls. Homeward's Buy Before You Sell product pairs short-term bridge financing with a guaranteed backup offer, letting owners purchase a new home before selling their current one.
What's the endgame? The company plans to use the capital to broaden its financing products, improve its platform, and expand across the 48 contiguous states. It aims to make Buy Before You Sell available nationwide by year-end.
Who's it built for? Homeward distributes through more than 25,000 real estate agents rather than direct consumer advertising. It has facilitated over $4 billion in residential transactions and bundles Homeward MortgageDealroom has a profile for this one. Try Dealroom → and Homeward TitleDealroom has a profile for this one. Try Dealroom → into one platform.
What's the context? The $330 million debt facility funds additional transactions and complements the equity raise. "Agents remain central to successful transactions," said founder and chief executive officer Tim Heyl.
The signal: Homeward's raise lands in the top tier of recent rounds by size, a notable bet on proptech as high rates and slow turnover keep homeowners stuck between buying and selling.
Read more: ventureburn.com, investing.com, finance.yahoo.com
Image credit: Homeward
