Opendoor Announces $325 Million in Series E Financing
Online real estate marketplace Opendoor closed a $325 million Series E funding round co-led by General Atlantic, Access Technology Ventures, and Lennar Corporation (the leading homebuilder in the U.S.), with additional participation from new investors Andreessen Horowitz, Coatue Management, 10100 Fund, and Invitation Homes (a leading property owner of homes for lease in the U.S.). Existing investors Norwest Venture Partners, Lakestar, GGV Capital, NEA, and Khosla Ventures also participated in the round.
The company plans to use the funds to rapidly expand its service to additional markets, growing from the 10 it currently operates to 50 markets by the end of 2020. Opendoor also plans to expand and scale its suite of services, such as mortgage and title, to allow people to search, discover, visit, get financing, offer, and close in a single, seamless experience.