Gregor Watson, Rich Ford, and I created Roofstock to address some glaring problems: high levels of friction and transaction costs, lack of transparency, and limited access to the $4 trillion single-family rental (SFR) class.
Despite the vast income- and wealth-generating potential of SFR investing, its opaque and complex nature made investing across geographies and at scale inherently challenging.
In building Roofstock, we sought to break down these geographical and access barriers through purpose-built technology, innovative business processes, and robust data—for both Main Street and Wall Street investors. Over the last several years, we’ve made great strides in our mission to make ownership of investment real estate radically accessible, simple, and cost-effective. I’m proud of the progress we’ve made, but this is just the beginning.
That’s why I’m pleased to share the news that we’ve raised $240 million in Series E equity at a $1.94 billion valuation, led by SoftBank Vision Fund 2. We are also pleased to have received investments from many existing and new investors, including:
- Khosla Ventures
- Lightspeed Venture Partners
- Bain Capital Ventures
- Canvas Ventures
- Citi Ventures
- First American Financial
- Expanding Capital
- 7GC & Co.
- JLL Spark
- SVB Capital
- The Private Shares Fund
- Masco Ventures
- Newton Investment Management North America
- Pegasus Tech Ventures
- CAZ Investments
- Moving Capital (aka Uber Alumni Investment Club)
- DoorDash Angels
Today’s announcement comes on the heels of significant growth for the Roofstock team as more people turn to the power of SFR investing to build generational wealth. Roofstock is at the center of a technology-driven, tectonic shift in real estate, and this financing from marquee investors further validates our mission to power the future of the asset class. SFR is reaching new heights, and I’m proud that Roofstock is able to be a partner to so many folks starting their investing journeys.
Roofstock’s growth throughout 2021 highlights our potential to catalyze a complete overhaul of the real estate industry. We launched Roofstock One, which gives accredited investors a fully passive investing experience. We expanded our property and asset management capabilities by welcoming Great Jones and Stessa into Roofstock. We saw organic traffic to the platform more than triple in volume. With this new capital, we’re doubling down on these capabilities and more. Stay tuned for more innovations to come this year and beyond.
We’re investing in our users by building offerings that serve as partners throughout each investment journey, from purchasing properties to accessing on-the-ground property management services to monitoring portfolio growth and finances.
We’re investing in the tools that we believe will power the future of the industry. Roofstock Labs, our internal incubator for next-generation technologies, drives new capabilities for the industry. We’ve also been accepted to the Cypher Accelerator program at the Stevens Center for Innovation in Finance, a research center at the University of Pennsylvania’s Wharton School, where we’ll explore new blockchain offerings. There’s a world of potential on the horizon to bring more innovation to the real estate industry, and Roofstock is pioneering many of these impactful changes.
Roofstock’s growth is the result of our passionate team and best-in-class investors, all of whom share our vision to change the future of real estate. Thank you to the Roofstock team and our partners for the hard work thus far. And, thank you to Roofstock’s users, who keep returning to the Marketplace and platform to learn, build, and power their portfolios.