Opendoor Raises $300M in Convertible Note

Opendoor has successfully raised $300M in a Convertible Note at a $4.8B valuation led by Khosla Ventures, NEA, General Atlantic, Lennar Corporation, Norwest Venture Partners, SoftBank Vision Fund, Access Technology Ventures.

Company Overview

Opendoor is a PropTech company headquartered in 410 N. Scottsdale Road, Tempe, AZ 85281, founded in 2014 with 2000+ employees.

iBuying real estate platform

Fundraising Details

• Amount Raised: $300M
• Round Type: Convertible Note
• Valuation: $4.8B
• Date: 2024-01-15
• Investors: Khosla Ventures, NEA, General Atlantic, Lennar Corporation, Norwest Venture Partners, SoftBank Vision Fund, Access Technology Ventures

About Opendoor

iBuying real estate platform The company is positioned in the PropTech sector, serving a growing market with innovative solutions.

Key Information

• Headquarters: 410 N. Scottsdale Road, Tempe, AZ 85281
• Founded: 2014
• Team Size: 2000+
• Industry: PropTech

What This Means

This funding round demonstrates strong investor confidence in Opendoor's vision and execution. The capital will likely be used to:

• Scale Operations: Expand the team and operational capacity
• Product Development: Enhance existing products and develop new features
• Market Expansion: Enter new markets and strengthen presence in existing ones
• Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The PropTech sector continues to attract significant investment as companies innovate to meet evolving market demands. Opendoor's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $4.8B valuation marks an important milestone for Opendoor, positioning the company among notable players in the PropTech industry.

Looking Ahead

With this new capital, Opendoor is well-positioned to execute on its growth strategy and continue building innovative solutions in the PropTech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-01-15. For more information about Opendoor, visit their headquarters at 410 N. Scottsdale Road, Tempe, AZ 85281.