- Side — a real estate technology company that exclusively partners with the very best agents, teams, and independent brokerages to transform them into leading boutique brands and businesses — announced it has raised over $50 million. These are the details.
Side — a real estate technology company that exclusively partners with the very best agents, teams, and independent brokerages to transform them into leading boutique brands and businesses — announced it has raised over $50 million. This funding round more than doubled the valuation to $2.5 billion just three months after being valued at $1 billion.
The funding round — which was led by Tiger Global Management with participation from ICONIQ Capital and D1 Capital Partners — reaffirms Side’s position as the leading brokerage platform and the fastest growing real estate company in history. The total combined funding for Side now amounts to well over $250 million with Matrix Partners, Sapphire Ventures, Trinity Ventures, and 8VC leading earlier rounds.
This latest wave of capital underpins Side’s national expansion efforts as the company is preparing to enter 15 new states by the end of 2021. And following a momentous year, Side celebrates a more than 200% year-over-year increase in agent represented home sales across its three operating markets of California, Texas, and Florida. By the end of the year, Side is expected to further expand and close over $20 billion in home sales, positioning the company as a top 10 national brokerage by volume. The new funding will accelerate Side’s growth for its best-in-class technology brokerage platform while setting the stage for a future IPO.
For the first time in history, Side allows top-producing agents, agent teams and independent brokerages the power to gain full ownership of their own boutique brand and business without having to operate as a brokerage. The company was developed by industry professionals and world-class engineers.
And Side’s white-label technology brokerage platform exclusively markets an agent’s business to clients while handling all the back-end implementation including marketing and advertising, brand development, system implementation, listing coordination, legal, insurance, office space, etc. Plus Side delivers enhanced time-saving capabilities and fully managed growth marketing services, making it possible for agents and teams to stay 100 percent client-focused delivering the best results for their communities.
“Today’s financing signifies confidence in our vision to reinvent the traditional brokerage model by partnering with the very best real estate agents to create boutique brands that are the service leaders in their market. We are excited to partner with more agents across the country, increase investment in our existing agent partnerships, and further support more top real estate professionals in serving buyers, sellers, and renters better than anyone else from coast to coast.”
— Guy Gal, Side co-founder and chief executive officer