Orchard raises $69 million led by Revolution Growth
New York City-based Orchard completed a $69 million Series C equity funding round led by Revolution Growth, with participation from existing investors, FirstMark, Navitas, Accomplice, and Juxtapose. The latest fundraise brings Orchard’s total equity raised to date to $138 million.
Founded in 2017, Orchard’s core product is Move First, which allows customers to purchase their next home and move in before they’ve sold their current one. It also offers customers the ability to buy their next home with Orchard’s cash.
Austin-based Homeward also allows customers to buy a home before they sell one by asking users to submit an online application for Homeward to calculate their home equity and provide approval. Later, they can make an all-cash offer with Homeward’s funds to secure a home till selling the exiting one. If the home doesn’t sell, Homeward will buy it from them.
“Our vision is to bring real estate into the modern age by allowing customers to manage their entire experience through one simple digital platform. In the same way Amazon has fundamentally changed retail, and Carvana has innovated the car buying experience, Orchard is putting the customer first and modernizing the home buying and selling transaction. We’re thrilled to have a partner in Revolution Growth who has extensive experience working with transformative growth stage consumer businesses that are upending traditional industries. In the year ahead, we’ll be launching an exciting suite of new products and services that further modernize the home purchase experience, while also offering our services to new markets throughout the country.” – Court Cunningham, CEO and Co-Founder of Orchard.
Since its founding in 2017, the company has helped “thousands of customers” buy and sell their homes across Texas, Colorado, and Georgia.