The funding more than doubled Side’s valuation to $2.5B, just 3 months after it achieved unicorn status. Here are the top-line bullets you need to know.
Side, a real estate technology company, has raised $50M in a Series D continuation round with participation from Tiger Global Management, ICONIQ Capital, and D1 Capital Partners.
How’s the company performing?
- California-based Side is a a real estate technology firm that helps agents, teams, and independent brokerages build their own brands.
- It garnered between $30M-$50M in revenue in 2020 and expects to double its revenue this year. Side’s current annual production volume stands at more than $15B, representing a 200% year-over-year growth in sales.
- The company supports over 1,800 partner agents that include Trust Real Estate, Unvarnished, and Upside Real Estate.
- Side’s operating markets include California, Texas, and Florida.
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.
- Technological advancements have transformed the real estate market, leading to increased investments and funding in this space. In Q1’21, the real estate tech space raised a total of $2.8B in funding.