Sundae operates a residential real estate marketplace that pairs sellers of dated or damaged properties with a pool of investors and buyers, serving as an intermediary for off-market transactions. The platform lists properties to about 2,600 qualified off-market buyers and claims sellers receive on average 10 offers within three days. Sundae provides property details including photos, floor plans, 3D walkthroughs and third-party inspection reports, and offers a $10,000 cash advance to sellers after an accepted offer and inspection. It monetizes by charging buyers in its investor marketplace a fee when it assigns them a property and recently launched a dedicated online investor marketplace. Since its August 2018 inception and January 2019 launch, the company expanded from four California markets to 14 markets across Florida, Colorado, Georgia, Texas and Utah and employs about 180 mostly remote staff. Sundae declined to disclose valuation or hard revenue figures but reported a 600% year-over-year revenue increase from June 2020 to June 2021 and has raised $135 million to date. Sundae operates an online marketplace for homeowners to list and sell dated, damaged, or financially urgent homes and for property investors to discover and buy those properties. The company provides services including property photography (using Matterport), pricing guidance, and $10,000 cash advances to sellers. Since launching its business in January 2019, Sundae has gone live in San Diego, Los Angeles, the Inland Empire, and Sacramento. Those markets have yielded an annualized gross merchandise value run rate of over $400 million. Sundae facilitates sales to third-party investors — the vast majority (more than 50% but less than 100%) of properties are purchased by investors — and sometimes buys properties itself. The company plans to use its growing dataset and the new funding to ramp up its team and expand the business. Sundae operates a residential real-estate marketplace that helps sellers of distressed property secure better prices through a streamlined process. The platform eliminates closing costs and agent fees and lets homeowners skip repairs, cleanings, and showings; it also offers a $10,000 cash advance before closing to assist with moving or other expenses. In addition to connecting sellers with buyers, Sundae purchases, renovates, and resells properties through its resale brokerage, Sundae Homes. Founded in August 2018 by Josh Stech and Andrew Swain, the company launched in January 2019 and today operates across Southern California. It maintains offices in San Francisco, Manhattan Beach and Atlanta. Sundae intends to use proceeds from its Series A to expand into new U.S. markets.

Total raised

$133M

Funding rounds

3

Latest round

Series C

Latest activity

Jul 2021