Flyhomes raises $150 million Series C funding | #cybersecurity | #cyberattack

CHENNAI: US-headquartered real estate startup Flyhomes has raised $150 million in Series C financing.
The round was co-led by venture capital firms Norwest Venture Partners and Battery Ventures, with additional participation from Fifth Wall, Camber Creek, Balyasny Asset Management, Zillow co-founder Spencer Rascoff, Leo Capital and existing investors Andreessen Horowitz and Canvas Partners.
As part of the transaction, Lisa Wu of Norwest Venture Partners and Roger Lee of Battery Ventures will join the Flyhomes board of directors.
With an aim of scaling up its operations, Flyhomes said it is looking at increasing its India staff by 3x from the current 150 people. The company will be hiring engineers, product managers, designers, growth hackers and strong operators, it added.
The new funding will also help the company to scale service to meet the demand in the current markets of Seattle, San Francisco Bay Area, Los Angeles, San Diego, Portland and Boston, and open additional markets in the US.
“We believe in transformational leadership and people as our core strength. Our focus is on building the right culture in India to deliver high performance output,” Gaganpreet Luthra, Managing Director, India, Flyhomes, said.
“India engineering talent has been critical to building Flyhomes — from our first engineers, who were based in India, and are still with the company,” Tracie Hlavka, EVP, Engineering, said.
Flyhomes brings every step of the homebuying process -from brokerage to mortgage- together and innovates on financial products to help clients. The Flyhomes cash offer turns buyers into all-cash buyers to give them a competitive edge to win when buying a home. Flyhomes also enables sellers to buy and move into their next home before selling their current one, eliminating the hassle of moving twice, taking on a double mortgage, or living through house showings. Flyhomes has bought and sold more than $2.6 billion worth of homes since launching operations in 2016.
In today’s hyper-competitive market, homebuyers without all cash on hand are at a distinct disadvantage, bidding and losing out on multiple homes before finally winning.

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