Home365, a proptech aimed at providing real estate investing and property management platform to the masses, announced today raising a $26 million Series B led by Viola Growth, according to a press release.
The company says it will use the funding to deepen its platform functionalities and expand to new cities including Chicago, Seattle and Phoenix.
The funding follows a $16.3 million Series A led by Greensoil PropTech Ventures in June 2021, and also included participation from existing investors O.G. Tech, Gatewood Capital, Verizon Ventures, Samsung Next, Lool Ventures and North First Ventures. The company has now raised $50 million in funding to date through five funding rounds, including a seed round led by Lool Ventures in 2015.
Home365, which utilizes AI to automate and streamline real estate investment, currently manages more than $1.5 billion in investments across 7,000 properties in 17 cities and seven states, according to the release.
The Israel-founded and Santa Clara-based company says its platform helps investors through real estate investing education, property acquisition, day-to-day property management and underwriting of asset performance.
It also stated that its novel model guarantees net operating income and secures the performance of investor assets, while lowering stress and variance of portfolio performance.
“Our goal is to democratize and ‘unlock the wealth’ associated with real estate investing for everyone across the globe by removing the risks and hassles. In fact, we have introduced a new financial asset class that drives predictable and passive ROI as an alternative to any other way of passively saving,” stated Home365 founder and CEO Daniel Shaked in the release.
The company’s mobile app also integrates over 5,000 maintenance vendors, and provides a repair solution to ensure repairs and disputes are resolved quickly and transparently. It says tens of millions of dollars are processed via its accounting platform every month, with live income statements provided for owners and ledgers provided to residents.
“Our DNA as a company as well as our software is wired around managing people’s money and meeting their financial goals. Our model attracts not only professional Investors who embrace peace of mind but especially a new market segment of people who are interested in diversifying their cash into a Real Estate without the pains associated with being a landlord,” said Shaked.
In other recent proptech news, Poplar Homes announced raising a $53 million Series B and strategic hirings with a goal to double its footprint by the end of 2022. Audience Town CEO Ed Carey also discussed how the company uses data to advertise and market along the home buying journey.