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Furthering Opendoor’s growth

Reading Time — 2 minutes

March 20, 2019

By Opendoor Team

Reading Time — 2 minutes

March 20, 2019

As we head into the busy spring home season, we’d like to take a moment to reflect on the first few months of 2019. Following a year of rapid growth, we’re now buying and selling close to 3,000 homes every month, with over 36,000 customers serviced to date.

We’re now available in 23 markets allowing Opendoor customers to buy, sell, or trade homes in regions across the US. And we are hard at work building a few major products that will be launched very soon.

Every day we hear from customers all over the U.S. who have been empowered by Opendoor to start the next chapter of their lives – like Anne and Jim Nash from Roseville, CA who were ready to move to a new build home from our partners at Lennar but were also worried about the complexity of selling their current home.

We provided the couple with an offer to buy their house and the ability to move into their new community on their timeline, stress-free.

Opendoor is rapidly scaling to give people like Anne and Jim a simpler way to buy and sell homes at the lowest cost. There’s much more growth to come this year as we continue to scale our geographic footprint, expand the home shopping and buying experience, and integrate new services that help customers through all stages of the home buying, selling, and owning journey.

To help fuel this growth and product expansion, we’ve raised an additional $300 million in follow-on equity financing from investors including General Atlantic, Hawk Equity, SoftBank Vision Fund, Access Technology Ventures, Lennar Corporation, Fifth Wall Ventures, SV Angel, Norwest Venture Partners, NEA, GGV Capital, Khosla Ventures, and GV along with other strategic investors. This additional funding brings our total equity raised to $1.3B, along with over $3.0B in debt financing.

We’re grateful for the passion, care, and hard work from all 1,300 Opendoor teammates who work tirelessly creating our customer experience and for the investors and partners who believe in our vision and path.

Further reading

Opendoor introduces cash-backed offers, increasing buyers’ chances of winning their dream home
Feels like home: Opendoor live in the SF Bay Area
Opendoor is now live In New Jersey & New York