The company plans to use the money to fund its expansion. Here are the top-line bullets you need to know.
Flyhomes, an end-to-end home brokerage company, has raised $150M in a Series C with participation from Norwest Venture Partners, Battery Ventures, Andreessen Horowitz, and Balyasny Asset Management, among others.
How’s the company performing?
- Washington-based Flyhomes provides an end-to-end homebuying platform, from brokerage to mortgage. The company has helped close real estate deals worth $2.6B since its launch in 2016.
- Flyhomes states that it saves 2.4% on average on home sales in comparison to the highest bid and homebuyers are 4 times more likely to close homes when working with Flyhomes vs. traditional agents.
Why does the market matter?
- The global real estate software market is projected to grow at a CAGR of 5.7% and reach a value of $20.6B, as per Industry Arc.
- Reduced fees, investors’ access to affordable, high-quality real estate, and technological advancements are the major factors that have contributed to the growth of the industry.