Opendoor looks to bring its valuation up by another $200M

Opendoor, an online real estate platform, is looking to raise another $200 million to bring its valuation up to around $3.7 billion.

Another mega round of funding is not such a big deal these days. But another mega round of funding when a company has already raised two such rounds in the past eight months is notable.

Last June, San Francisco-based Opendoor raised $325 million in new financing in a Series E round led by General Atlantic and Access Technology Ventures. At that time, the company was valued at over $2 billion. Then in September, it raised another $400 million, this time from the SoftBank Vision Fund. At that time, the company noted its total funding included $1.045 billion of equity capital and $2 billion in debt financing.

It’s not clear if the new financing it is reportedly seeking, according to papers filed in Delaware, would come in the form of an outside round, or a conversion – or a mix of the two. It is also unclear if Opendoor has yet raised the money.

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