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Roofstock Announces $7 Million In Additional Funding: Learn How The Startup Makes Property Investing Easier

Roofstock Announces $7 Million In Additional Funding: Learn How The Startup Makes Property Investing Easier

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Roofstock.

Roofstock announced Thursday that the venture capital arm of Silicon Valley Bank had joined its latest funding round, bringing the property investing startup's funding total to $42 million.

What does your company do? What unique problem does it solve?

Gary Beasley, CEO: Roofstock is the first online marketplace created exclusively for buyers and sellers of cash-flowing, single-family rental homes that already have tenants. The platform makes it efficient and transparent to purchase turnkey income properties in strong U.S. markets without geographic restraints, essentially democratizing real estate investing. Buyers have access to detailed home and tenant information, analytics and market insights, as well as the industry’s first-ever single-family rental ratings index for U.S. neighborhoods that assesses neighborhood-specific risk.

Roofstock also makes owning easy by setting investors up with best-in-class property management options. This empowers owners to separate investing from operations and buy in markets with the best returns—no matter where they live.

Who are your customers?

Roofstock caters to both retail and institutional investors looking to buy and sell rental properties.

How long have you been in business?

The company launched in 2015.

Where are you located?

Roofstock is headquartered in Oakland, CA.

Who is your company's leadership? What kind of experience do they have?

Roofstock was co-founded by Gary Beasley, CEO, and Gregor Watson, Chairman.

Gary has spent most of his career building businesses in the real estate, hospitality and tech sectors. After earning his BA in economics from Northwestern, Gary ventured west to earn his MBA from Stanford, where he caught the entrepreneurial bug and still serves as a regular guest lecturer. Previously Gary was instrumental in acquiring and integrating more than $800 million of resort properties for KSL Resorts, and spent five years as CFO of online brokerage pioneer ZipRealty, which he led through its successful IPO in 2004. Gary also served as CEO of Joie de Vivre Hospitality, then the second largest boutique hotel management company in the country.  Immediately before starting Roofstock, Gary led one of the largest single-family rental platforms in the U.S. through its IPO as co-CEO of Starwood Waypoint Residential Trust, now part of Colony Starwood Homes.

Gregor is a serial real estate and technology entrepreneur who has founded multiple enterprises. He is a founding member of 1 Sharpe Capital and is the Chairman of 643 Capital Management, which is a co-owner of Streetlane Homes—a top 10 owner of single-family rental homes in the US. In addition to serving as a board member at Streetlane, Gregor currently ​serves as​ chairman of Roofstock, ​overseeing the platform’s development and strategy as well as the company's expansion efforts in domestic and international markets. Prior to co-founding Roofstock, ​Gregor​ built and sold Dwell Finance, the largest national bridge lender at the time.

Who are your investors, if any?

Roofstock has raised $68,250,000 to date, with a recent $35M Series C investment led by Canvas Ventures in October 2017. Other investors since Roofstock’s launch include Lightspeed Ventures, Bain Capital Ventures, Khosla Ventures, Hone Capital, QED Investors, Nyca Partners, and several angel investors.

Is there anything else Benzinga should know about your company?

Roofstock started with two employees (co-founders Gary Beasley and Gregor Watson) and has grown to a team of 85 in just two years. The company has experienced rapid growth and now exceeds the pace at which Lending Club grew. 

Photo courtesy Roofstock


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Posted-In: Benzinga Global Fintech Awards Gary Beasley RoofstockFintech Startups Real Estate Best of Benzinga