Company:Roofstock

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Roofstock is an Oakland-based Fin-tech startup founded by Gary Beasley who serves as the CEO,[1][2] Gregor Watson who serves as the Chairman[3][4] and Rich Ford who serves as the Chief Development Office.[5] The startup was established in 2015.[6][7]

Roofstock
Industry
  • Fintech
  • Marketplace
  • Rental Property
Founded2015
Founder
  • Gary Beasley
  • Gregor Watson
  • Rich Ford
HeadquartersOakland
Number of employees
205
Websitewww.roofstock.com

Overview

Roofstock is an online marketplace for investing in leased single-family rental homes.[4] The company helps its clients by providing them with research, analytics, and insights to evaluate and purchase certified properties.[6][1]

The company pre-inspects rental properties with information about tenant, current rent, and property manager and makes this information accessible online. Users can compare investment properties around the country.[2]

History

  • 2016: Roofstock Marketplace was launched.[1]
  • 2017: Roofstock Neighborhood Ratings was launched.
  • 2018: Surpassed $1 Billion in transactions.[4]
  • 2018: Streetlane was acquired.[8]
  • 2019: Surpassed $2 Billion in transactions.[9][10]

Roofstock Neighborhood Rating Algorithm

Roofstock launched a “neighborhood rating algorithm,” that analyzes more than 72,000 Census tracts and ranks their risk. It includes factors like home values, average rent, income levels, employment rates, education levels, crime data, percentage of owner-occupied homes and school district ratings. It then ranks each neighborhood on a scale of 1 to 5, 1 being the most risky.[11]

Acquisitions

In July 2018, Roofstock acquired Streetlane, a Dallas-based single-family rental management company.[8]

Awards and accolades

  • 2017: Was listed as Best Small & Medium Workplaces™ 2017[12]
  • 2018: Was listed as Best Small & Medium Workplaces™ 2018[13]
  • 2019: Won the HousingWire Tech100.[14][15]
  • 2019: Was named to the Forbes Most Innovative Fintech Companies list.[16]
  • 2019: Received the first ever Finovate Awards award for Best Alternative Investments Platform.[17]
  • 2019: Was listed as the Best Workplaces in the Bay Area™ 2019[18]

Fundings

  • 2016: Received Series A funding of $13.3 Million from Khosla Ventures, Ron Conway, Marc Benioff, Bain Capital and others.[1]
  • 2016: Received Series B funding of $20 Million.[19]
  • 2017: Received Series C funding of $50 Million led by Canvas Ventures.[6]
  • 2020: Received Series D funding of $50 Million led by SVB Capital.[9][10]

References

  1. ↑ 1.0 1.1 1.2 1.3 "Roofstock launches marketplace for purchasing rented homes" (in en-US). http://social.techcrunch.com/2016/03/03/roofstock-launches-marketplace-for-purchasing-rented-homes/. 
  2. ↑ 2.0 2.1 Fuscaldo, Donna. "Real Estate Fintech Roofstock Doubles Its Investor Base of Newbies" (in en). https://www.forbes.com/sites/donnafuscaldo/2019/07/16/real-estate-fintech-roofstock-doubles-its-investor-base-of-newbies/. 
  3. ↑ White, Spencer (2018-01-18). "Roofstock Announces $7 Million In Additional Funding: Learn How The Startup Makes Property Investing Easier" (in English). https://www.benzinga.com/fintech/18/01/11046585/roofstock-announces-7-million-in-additional-funding-learn-how-the-startup-mak. 
  4. ↑ 4.0 4.1 4.2 "U.S. property startup Roofstock raises more funding from SVB, others" (in en). Reuters. 2018-01-19. https://www.reuters.com/article/us-roofstock-investment-idUSKBN1F71AU. 
  5. ↑ Gose, Joe. "Renters Are Buying Rental Homes Alongside Mom-And-Pops, Institutional Funds" (in en). https://www.forbes.com/sites/joegose/2018/06/15/renters-are-buying-rental-homes-alongside-mom-and-popsinstitutional-funds/. 
  6. ↑ 6.0 6.1 6.2 "Roofstock, a marketplace for single-family homes with tenants, just closed on $35 million in new funding" (in en-US). http://social.techcrunch.com/2017/10/04/roofstock-a-marketplace-for-single-family-homes-with-tenants-just-closed-on-35-million-in-new-funding/. 
  7. ↑ "New Single-Family Rental Pitch: Want to Buy a Piece of a House?". https://www.bloomberg.com/news/articles/2019-02-26/new-single-family-rental-pitch-want-to-buy-a-piece-of-a-house. 
  8. ↑ 8.0 8.1 "Roofstock Acquires Streetlane - silicontap.com". https://www.silicontap.com/roofstock_acquires_streetlane/s-0075431.html. 
  9. ↑ 9.0 9.1 "Roofstock, which makes it easier to buy a home as an investment property, just raised $50 million in new funding" (in en-US). http://social.techcrunch.com/2020/01/07/roofstock-which-makes-it-easier-to-buy-a-home-as-an-investment-property-just-raised-50-million-in-new-funding/. 
  10. ↑ 10.0 10.1 Welborn, Seth (2020-01-13). "Roofstock Closes $50M SFR Equity Round" (in en-US). https://dsnews.com/daily-dose/01-13-2020/roofstock-closes-50m-series-d-equity-round. 
  11. ↑ Olick, Diana (2017-07-14). "Landlord alert: New index aims to take the risk out of rental investing" (in en). https://www.cnbc.com/2017/07/14/landlord-alert-new-index-aims-to-take-the-risk-out-of-rental-investing.html. 
  12. ↑ "Best Small & Medium Workplaces 2017" (in en-gb). https://www.greatplacetowork.com/best-workplaces/smb/2017?category=small-companies. 
  13. ↑ "Best Small & Medium Workplaces™ 2018" (in en-gb). https://www.greatplacetowork.com/best-workplaces/smb/2018?category=small-companies. 
  14. ↑ "Roofstock acquires single-family rental management platform" (in en-US). 2018-07-18. https://www.housingwire.com/articles/46107-roofstock-acquires-single-family-rental-management-platform/. 
  15. ↑ "2019 HW Tech100 winner: Roofstock" (in en-US). 2019-04-01. https://www.housingwire.com/articles/48659-hw-tech100-winner-roofstock/. 
  16. ↑ Petrenko, Liudmyla; Prykhodko, Ann (2018-12-21). "Analysis of the world's most innovative companies (Forbes list)". Strategy of Economic Development of Ukraine (43): 57–68. doi:10.33111/sedu.2018.43.057.068. ISSN 2312-9298. 
  17. ↑ "Drumroll... Finovate Awards Winners Announced" (in en-US). 2019-09-25. https://finovate.com/drumroll-finovate-awards-winners-announced/. 
  18. ↑ "Best Workplaces in the Bay Area™ 2019" (in en-gb). https://www.greatplacetowork.com/best-workplaces/bay-area/2019?category=small-and-medium-companies. 
  19. ↑ "Funding Snapshot: Home Rental Marketplace Roofstock Raises $20M Series B" (in en-US). Wall Street Journal. 2016-11-14. ISSN 0099-9660. https://www.wsj.com/articles/funding-snapshot-home-rental-marketplace-roofstock-raises-20m-series-b-1479125701. 



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