Acre Homes – a tech-enabled real estate company – announced the closing of a seed round led by Anthemis, bringing the total venture capital raised to over $10 million. The funding included notable participation from Sovereign’s Capital, Home Technology Ventures, Studio VC, Front Porch Ventures, Unpopular Ventures, Duke Capital Partners, and former CEO of Invitation Homes Fred Tuomi. This funding will support the company’s efforts to accelerate growth in existing markets, including the newly launched Atlanta.
Acre was launched in 2021 by Mike Schneider (First, RE/MAX), Kent Keirsey (US Army, First, Collective Health), Pete Crawford (US Army, McKinsey & Company), and Irene Tollinger (NASA, Collective Health), experienced entrepreneurs in real estate and technology. And in just three years, Acre has launched in the greater Raleigh and Atlanta metro areas, serving a broad range of customers looking for a strong alternative to renting and a traditional mortgage.
Some early Acre customers include growing families, mobile professionals, and new and experienced homebuyers. Compared with a traditional mortgage, the average Acre customer has saved $9K in purchase costs and is projected to benefit from an additional $50K through ongoing savings and home appreciation.
KEY QUOTES:
“We believe Acre is well-positioned to deliver a sorely needed, consumer-centric solution in real estate. The team’s deep expertise and unique approach to solving a very real, very complex problem is impressive, and we look forward to supporting their growth.”
- Sean Park, Founder, CIO and General Partner at Anthemis
“Our team is thrilled to have secured this investment, particularly given the challenges of the current fundraising environment. This success is a reflection of the quality of our team, encouraging market traction, and the widespread interest in supporting innovative housing solutions. We founded this company because buying a home no longer makes sense for a growing number of Americans. Compared to a mortgage, Acre delivers an exceptional homebuying experience and compelling financial outcomes. This round enables us to expand our reach and impact for even more prospective home buyers.”
- Mike Schneider, CEO and Co-founder of Acre Homes
