Funding round
Hometap Growth
Reported as "Growth Equity"
Hometap, which works in home equity investment services in Boston, raised $60M in a Growth round announced on 6 Dec 2021, led by American Family Ventures. 6 firms took part, 1 of them already investors. It is Hometap's third venture round on record; the one before was a Series B in Dec 2019.
$60M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Hometap did not disclose a valuation in this round. It came 24 months after Hometap's Series B. It is 13% of the $467M Hometap has raised in the venture rounds on record. Hometap raised again 1 month later: a Growth round of $245M in Jan 2022.
Hometap's funding rounds
Hometap has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
American Family Ventures led the round with 5 other firms. General Catalyst had backed Hometap before.
Lead investor
- backs 34 venture-backed companies new investor
Also in the round
- backs 70 venture-backed companies new investor
- ICONIQ Capital, LLC new investor
- backs 19 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
43 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 15 Dec 2021 | $115M | not disclosed | SoftBank Latin America Fund |
| Loans & Financing | 6 Jan 2022 | $128M | not disclosed | not named |
| Loans & Financing | 8 Nov 2021 | $120M | $850M | Fidelity Management & Research Company, LLC and Visa |
| Loans & Financing | 24 Jan 2022 | $78M | not disclosed | Autotech Ventures and Clear Haven Capital Management |
| DMI Finance Loans & Financing | 11 Jan 2022 | $47M | not disclosed | Sumitomo Mitsui Trust Bank Limited |
| Loans & Financing | 11 Jan 2022 | $34M | $634M | Lightbox |
| Loans & Financing | 18 Jan 2022 | $30M | not disclosed | Resolute Ventures and Social Capital |
| GoodLeap Loans & Financing | 13 Oct 2021 | $800M | $12.00B | BDT & MSD Partners |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Hometap raise in its Growth round?
Hometap raised $60M in its Growth round, announced in Dec 2021.
Who led Hometap's Growth round?
American Family Ventures led it, with Bain Capital, ICONIQ Capital, LLC, G20 Ventures, Pillar VC and General Catalyst.
What was Hometap's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
43 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median.
Did Hometap raise again after this round?
Yes: a Growth round in Jan 2022 of $245M.