Reali, the real estate and fintech company transforming home buying and selling, announced today that it has closed $250 million in new financing. Zeev Ventures led the round with participation from Akkadian Ventures, Signia Ventures, and others. Total funding for Reali now amounts to more than $300 million, with Zeev leading earlier rounds. This latest wave of capital underpins Reali’s planned national expansion and product advancements to its Reali Trade-In and Reali Cash Offer services, which help homebuyers remove contingencies from their offers — especially helpful in today’s hot housing markets.
“This fundraising reaffirms Reali’s commitment to simplifying one of life’s most complex and stressful transactions in a streamlined way. After a year of tremendous growth, the results of our high-tech, high-touch approach are resonating with our customers,” said Tyler Baldwin, CEO of Reali. “As we continue to scale, we are excited to have found investors and partners who share our vision of expanding our offering to new markets and continuing our quest to meet the individual needs of our customers.”
Since its launch in October 2016, Reali has dramatically evolved and expanded its market offerings. In 2020 alone, the company has experienced more than 7x year-over-year growth, 2x year-over-year customer growth, and increased the average revenue per user (ARPU) 3x. In addition, Reali’s vertically integrated platform has seen an increase in blended attach rates from 25% to 50%.
“In a competitive proptech market, Reali stands out for its relentless focus on the consumer and its commitment to transform the complicated process of buying or selling a home. They have streamlined the process and engineered innovative financial solutions that fit the unique needs of today’s consumers. Tyler and his team couldn’t be better suited to take the company to the next level, and we are proud to expand our investment in Reali as the company continues to change the homeownership journey on a much larger scale,” said Oren Zeev with Zeev Ventures.
In addition to salaried in-house Reali agents and an in-house team of specialists who collaborate and communicate 24/7, Reali offers a wide range of alternative financing solutions. Reali Trade-In makes it easy to simultaneously sell an existing home and buy a new home in a coordinated transaction. It eliminates the pain of resale contingencies, moving twice, and paying two mortgages at once. Reali Cash Offer allows buyers to purchase the home of their dreams with a competitive, all-cash offer backed by Reali. These solutions help buyers and sellers find a competitive edge and close faster, on average saving their customers $16,000.
The funding round includes $75 million in equity, $25 million in venture debt, and $150 million in warehouse financing.