$39m Funding Round for Doorvest

November 19, 2021

American rental property platform Doorvest has announced the close of its $39 million Series A funding round.

The San Francisco-headquartered company, which describes itself as a “.. modern, frictionless way for any consumer to own high-yield rental homes entirely online,” said the funding will be used for talent acquisition, expansion to new markets, and product and technology investments to accelerate the purchase process for its customers.

This latest funding was led by M13, with participation from Mucker Capital, Gaingels and Socially Financed.

Doorvest has also unveiled an iBuying platform for homeowners to rapidly increase its supply of rental homes. It allows anyone in its markets to sell their property to Doorvest regardless of condition.

After answering a few questions and submitting a refundable deposit. Doorvest sources homes that fit its investors ideal property. When it finds a perfect combination, it will buy it, renovate it, and place a long-term tenant.

The company says it is so confident in its renovations and tenants that it guarantees maintenance and rental income for the first year.

It looks after property management and day-to-day operations, and charges a 10% fee.

Doorvest has also unveiled an iBuying platform for homeowners, with the aim of rapidly increasing its supply of rental homes.

Its new sell side platform allows anyone in Texas and Atlanta - including real estate agents and wholesalers - to sell their property to Doorvest regardless of the condition.

This news comes following Zillow’s recent suspension of its own iBuying operations.

The startup was launched in April 2018 and has purchased more than 170 homes in its sole operating market, Houston, to date. It is reported to have more than $20 million worth of assets under management.

November 19, 2021
Andrew is an experienced media and content professional, with extensive publishing experiences throughout Southeast Asia and in the United Kingdom. He has worked on the editorial and content operations for property portals including PropertyGuru and Juwai. He was also the Publishing Director for the Thai language edition of BusinessWeek magazine.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Developer Generic Background
Product Roundup: Hemnet, Green Acres, FazWaz, Property Sorted and Leboncoin

Here are the product and services updates we've spotted coming from real estate marketplaces around the world this week...  ...

Read More
Affordability Calculators 1 1
Affordability Fears Are Growing – Are Real Estate Portals Paying Attention?

Only around 40% of listings on Zillow are affordable. Or, to put it another way, only around 40% of properties...

Read More
People Roundup Hero Image 3 April 25 2
People on the Move Roundup: REW, ImmoScout24 and REA India

This week's roundup of real estate marketplace comings and goings features executives on the move in Canada, Germany and India......

Read More
Cooperrocketacq 3
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More

Editor's Pick