News Feed Item
Opendoor, the Online Marketplace for Home Buyers and Sellers, Raises $210 Million in Series D Financing
|By Business Wire
|December 1, 2016 04:18 PM EST
Opendoor announces the closing of its $210M Series D led by Jeff Crowe
at Norwest Venture Partners with participation from NEA and existing
investors. Opendoor, the consumer marketplace for homes, will use the
capital to expand on its mission of simplifying the home buying and
selling process and scale the service to 10 cities in 2017. Currently
operating in Phoenix and Dallas Fort-Worth, the company is transacting
over $60M in home volume each month and has served over 4000 homeowners
since launching two years ago.
Opendoor Scales Home Shopping Experience
Opendoor redefines the home selling and buying experience, transforming
a painful, lengthy process into a frictionless experience for customers.
For sellers, Opendoor offers a simple, near-instant online sale,
allowing homeowners to close on their timeline and skip repairs, open
houses and months of uncertainty.
Patricia Smith was dreading the traditional home sale process and
recently used Opendoor to sell her three bedroom house in Mesa, Arizona.
“I was scared it would take months to sell. Three couples I know sold
their homes through Opendoor but it sounded too good to be true. I was
so impressed with how transparent Opendoor was about the process. It
went very smoothly.”
For buyers, Opendoor offers a completely different home shopping
experience, featuring on-demand open houses and a seamless purchase
process. With a few taps, buyers can access hundreds of homes, find the
ones that match their criteria, and have their own personal open house
by taking advantage of Opendoor’s 7 days a week, all day open houses.
Every Opendoor home includes a 2-year home warranty and a 30-day money
back guarantee, delivering peace of mind to buyers.
Dallas home buyer Austin Philips used Opendoor to find his dream home
for his growing family. “Opendoor gave me the huge advantage of seeing
homes on my time. I have two little kids and they often have us living
on a different schedule. With Opendoor, I could go see homes whenever we
had a break. Now, I honestly can’t imagine the home buying process being
any other way.”
Total financing now more than $320 million
Opendoor’s fresh capital infusion will be used to expand market share in
flagship markets and bring its simple home buying and selling experience
to thousands of new customers across the country. In addition to Norwest
Venture Partners and NEA, other investors who participated in the
funding round included Khosla Ventures, GGV Capital, Access Industries,
Fifth Wall, Lakestar, SVB Capital, Caffeinated Capital, and Felicis
Jeff Crowe, Managing Partner at Norwest Venture Partners will take a
board seat as part of the round.
“Norwest is excited to partner with Eric Wu and the Opendoor team
through the company’s next stage of growth and its expansion into new
markets. The company is offering a truly novel product for home buyers
and sellers and its vision for the future of real estate is incredibly
Rick Yang, General Partner at NEA, who participated in the round,
commented, “We share Opendoor’s vision to transform the complex process
of selling and buying a home into a simple, seamless transaction for all
homeowners. The Opendoor team is rebuilding the entire process from
Opendoor, now transacting over $60M in home volume each month, is
focusing on scaling its consumer experience into new markets. “We are
fortunate to have the support from investors that believe in our
long-term vision and our ability to build an iconic, industry-defining
company. As we look to scale Opendoor to dozens of cities, we are
focused on building a world-class customer experience centered around
transparency and trust,” said Eric Wu, CEO of Opendoor.
The company employs over 200 people in its San Francisco, Phoenix and
Dallas offices. Opendoor was recently recognized by Inman, the
pre-eminent publication in the real estate industry, as the most
innovative real estate company two years running.
Opendoor, the consumer marketplace for homes, removes all the headache,
uncertainty, and risk from buying and selling real estate. Headquartered
in San Francisco with offices in Phoenix and Dallas, Opendoor was
founded in March 2014 by Keith Rabois, an investment partner at Khosla
Ventures, and CEO Eric Wu. For more information, please visit www.opendoor.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161201006439/en/
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes.
In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 10, 2016 04:30 PM EST Reads: 1,329
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 10, 2016 04:30 PM EST Reads: 1,804
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 10, 2016 04:30 PM EST Reads: 1,891
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the:
The transformation of IT to a DevOps, microservices, and container-based architecture
What are containers and how DevOps practices can operate in a container-based environment
A demonstration of how ...
Dec. 10, 2016 03:45 PM EST Reads: 1,305
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair
The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY.
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Dec. 10, 2016 03:45 PM EST Reads: 883
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 03:30 PM EST Reads: 896
If you haven’t heard yet, CollabNet just put out some very big news for managing and gaining value from DevOps.
We introduced CollabNet DevOps Lifecycle Manager (DLM) — a platform designed exclusively for providing a single pane of glass, dashboard, and traceability views across your DevOps toolchain and processes from planning to operations and that can be traced back to planning and development.
Dec. 10, 2016 02:45 PM EST Reads: 893
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 02:45 PM EST Reads: 1,234
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 10, 2016 02:30 PM EST Reads: 2,048
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
Dec. 10, 2016 01:45 PM EST Reads: 703
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself.
Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Dec. 10, 2016 01:00 PM EST Reads: 400
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Dec. 10, 2016 01:00 PM EST Reads: 1,246
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 10, 2016 12:45 PM EST Reads: 2,138
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Dec. 10, 2016 12:30 PM EST Reads: 1,968
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 10, 2016 12:15 PM EST Reads: 7,475