- Real estate technology company Side announced it raised $150 million in Series D funding at a $1 billion valuation. These are the details.
Side — the only 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 recently that it raised a $150 million Series D funding round led by Coatue Management. And this latest round of financing establishes Side as one of the only real estate companies to achieve unicorn status.
Launched in 2017, Side also celebrates becoming the fastest real estate company to reach the $1 billion valuation milestone, doing so in just 4 years. And Side’s combined funding now totals over $200 million, which includes support from leading venture capital firms including Matrix Partners, Trinity Ventures, and Sapphire Ventures.
Side’s new round of funding will support significant hiring to expand the platform and accelerate the company’s national expansion efforts beyond its 3 operating markets of California, Texas, and Florida. And top-producing agents, teams, and independent brokerages from around the country will now have the ability to partner with Side. And for the very first time in history, gain full ownership of their own boutique brand and business without having to operate as a brokerage. With Side’s expansion, the company plans to advance its mission of transforming the nation’s best real estate professionals, teams, and independent brokerages into brands that are recognized as the service leaders in their communities.
Side’s white label brokerage model challenges the “big brand” status quo by exclusively marketing the agent’s boutique brand and business to clients while acting as their brokerage, technology, and support partner. And developed by industry professionals and talented engineers, Side expertly operates the brokerage platform on the backend while providing a best-in-class technology stack to help partner agents predictably grow their businesses, while continuing to provide excellent service to their clients.
KEY QUOTES:
“Today’s top-producing real estate professionals are underserved and underappreciated by the existing brokerage models. The incentives between brokerages and top agents and teams are misaligned. Existing brokerages are designed to support average agents, so they put all of the heavy lifting, cost, time, and risk of operations and growth on top-producing agents who want to focus their time on expertly serving their clients. Side was purposefully designed to enable top agents, teams, and independent brokerages to fulfill their aspiration and potential.”
“Side shifts value, time, and equity from existing brokerages to the top agents and teams who actually create the value in the first place. The future of real estate is here, and with this financing, we are excited to continue partnering with and being of service to more of the world’s best real estate professionals.”
— Guy Gal, Side co-founder and chief executive officer
