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- Side, a real estate technology company that partners exclusively with the best independent agents, teams and brokerage houses to transform them into top brands and businesses, has announced it has raised more than $ 50 million. These are the details.
Side, a real estate technology company that partners exclusively with the best independent agents, teams and brokerage houses to transform them into top brands and businesses, has announced it has raised more than $ 50 million. This round of funding more than doubled the valuation to $ 2.5 billion just three months after being valued at $ 1 billion.
The tour de table, led by Tiger Global Management with participation from ICONIQ Capital and D1 Capital Partners, reaffirms Side’s position as the leading brokerage platform and fastest growing real estate company in history. Side’s combined total funding now stands at over $ 250 million, with Matrix Partners, Sapphire Ventures, Trinity Ventures and 8VC leading in previous rounds.
This latest wave of capital supports Side’s nationwide expansion efforts as the company prepares to enter 15 new states by the end of 2021. And after a momentous year, Side is celebrating an increase of over 200% in year-on-year home sales represented by agents. in its three operating markets of California, Texas and Florida. By the end of the year, Side is expected to continue expanding and close more than $ 20 billion in home sales, positioning the company among the top 10 domestic brokers by volume. The new funding will accelerate Side’s growth for its premier technology brokerage platform while setting the stage for a future IPO.
For the first time in history, Side allows top-producing agents, agent teams and independent brokerage houses to acquire full ownership of their own boutique brand and business without having to operate as a that brokerage house. The company was developed by industry professionals and world-class engineers.
And Side’s white-label technology brokerage platform exclusively markets an agent’s business to clients while handling all back-end implementation, including marketing and advertising, business development. brand, system implementation, list coordination, legal services, insurance, offices, etc. time-saving capabilities and fully managed growth marketing services, allowing agents and teams to stay 100% customer-centric and achieve the best results for their communities.
KEY QUOTES:
“Today’s financing means confidence in our vision to reinvent the traditional brokerage model by partnering with the best real estate agents to create boutique brands that are service leaders in their market. We are excited to partner with more agents across the country, increase investment in our existing agent partnerships, and further help top real estate professionals serve buyers, sellers and tenants. better than anyone from coast to coast.
– Guy Gal, co-founder and CEO of Side
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