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Roofstock

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

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

Roofstock Marketplace was launched in 2016[1] and in 2017 the Roofstock Neighborhood Ratings was launched. It surpassed $1 billion in transactions in 2018.[4] In July 2018, Roofstock acquired Streetlane, a Dallas-based single-family rental management company.[8] In 2019, it surpassed $2 billion in transactions.[9][10] In 2022, Roofstock bought RentPrep, which was led by Steve White, CEO and founder.[11] In 2024, Roofstock launched Roofstock Capital Management.[12]

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. Also, it ranks each neighborhood on a scale of 1 to 5, 1 being the most risky.[13]

Published research

Roofstock published Housing America: Single-Family Rental's Critical Role in U.S. Housing Infrastructure.[14][15]

Awards and accolades

  • 2017: Was listed as Best Small & Medium Workplaces™ 2017[16]
  • 2018: Was listed as Best Small & Medium Workplaces™ 2018[17]
  • 2019: Won the HousingWire Tech100.[18][19]
  • 2019: Was named to the Forbes Most Innovative Fintech Companies list.[20]
  • 2019: Received the first ever Finovate Awards award for Best Alternative Investments Platform.[21]
  • 2019: Was listed as the Best Workplaces in the Bay Area™ 2019[22]

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.[23]
  • 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. Roofstock launches marketplace for purchasing rented homes TechCrunch, 3 March 2016, retrieved 2020-01-31^
  2. Donna Fuscaldo. Real Estate Fintech Roofstock Doubles Its Investor Base of Newbies Forbes, retrieved 2020-01-31^
  3. Spencer White. Roofstock Announces $7 Million In Additional Funding: Learn How The Startup Makes Property Investing Easier Benzinga, 2018-01-18, retrieved 2020-01-31^
  4. U.S. property startup Roofstock raises more funding from SVB, others Reuters, 2018-01-19, retrieved 2020-01-31^
  5. Joe Gose. Renters Are Buying Rental Homes Alongside Mom-And-Pops, Institutional Funds Forbes, retrieved 2020-02-09^
  6. Roofstock, a marketplace for single-family homes with tenants, just closed on $35 million in new funding TechCrunch, 4 October 2017, retrieved 2020-01-31^
  7. New Single-Family Rental Pitch: Want to Buy a Piece of a House? Bloomberg, 26 February 2019, retrieved 2020-01-31^
  8. Roofstock Acquires Streetlane - silicontap.com www.silicontap.com, retrieved 2020-01-31^
  9. Roofstock, which makes it easier to buy a home as an investment property, just raised $50 million in new funding TechCrunch, 8 January 2020, retrieved 2020-01-31^
  10. Seth Welborn. Roofstock Closes $50M SFR Equity Round DSNews, 2020-01-13, retrieved 2020-01-31^
  11. Roofstock acquires tenant screening platform RentPrep - FinLedger 2024-08-07, retrieved 2024-08-07^
  12. Roofstock Capital Management (“RCM”)^
  13. Diana Olick. Landlord alert: New index aims to take the risk out of rental investing CNBC, 2017-07-14, retrieved 2020-01-31^
  14. Housing America - Single-Family Rental's Critical Role In U.S. Housing Infrastructure^
  15. Build-to-Rent Investment Primer - Delivering accessible single-family housing^
  16. Best Small & Medium Workplaces 2017 Great Place To Work United States, retrieved 2020-01-31^
  17. Best Small & Medium Workplaces™ 2018 Great Place To Work United States, retrieved 2020-01-31^
  18. Roofstock acquires single-family rental management platform HousingWire, 2018-07-18, retrieved 2020-01-31^
  19. 2019 HW Tech100 winner: Roofstock HousingWire, 2019-04-01, retrieved 2020-01-31^
  20. Liudmyla Petrenko, Ann Prykhodko. Analysis of the world's most innovative companies (Forbes list) Strategy of Economic Development of Ukraine, 2018-12-21^
  21. Drumroll... Finovate Awards Winners Announced Finovate, 2019-09-25, retrieved 2020-01-31^
  22. Best Workplaces in the Bay Area™ 2019 Great Place To Work United States, retrieved 2020-01-31^
  23. Funding Snapshot: Home Rental Marketplace Roofstock Raises $20M Series B Wall Street Journal, 2016-11-14, retrieved 2020-01-31^