Funding round
Hometap Series B
Hometap, which works in home equity investment services in Boston, raised $100M in a Series B round announced on 11 Dec 2019, led by ICONIQ Capital. 8 firms took part. It is Hometap's second venture round on record; the one before was a Series A in Apr 2018.
$100M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Hometap did not disclose a valuation in this round. It came 20 months after Hometap's Series A. It is 21% of the $467M Hometap has raised in the venture rounds on record. Hometap raised again 24 months later: a Growth round of $60M in Dec 2021.
Hometap's funding rounds
Hometap has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
ICONIQ Capital led the round with 7 other firms.
Lead investor
- ICONIQ Capital new investor
Also in the round
- General Catalyst backs 574 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- Pillar Ventures new investor
- backs 34 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- backs 128 venture-backed companies new investor
- Pace Capital new 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
22 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $19M, and this round was 5.3 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 11 Dec 2019 | $26M | not disclosed | Tiger Global |
| Loans & Financing | 19 Dec 2019 | $15M | not disclosed | Goldman Sachs |
| Loans & Financing | 26 Jan 2020 | $125M | not disclosed | SoftBank and SoftBank’s Latin America Fund |
| Loans & Financing | 27 Nov 2019 | $18M | not disclosed | LINE Ventures |
| Loans & Financing | 21 Oct 2019 | $13M | not disclosed | not named |
| Loans & Financing | 12 Mar 2020 | undisclosed | not disclosed | not named |
| Clearco Loans & Financing | 9 Aug 2019 | $300M | not disclosed | Highland Capital |
| Loans & Financing | 15 Aug 2019 | $21M | not disclosed | Canvas Prime |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Hometap raise in its Series B round?
Hometap raised $100M in its Series B round, announced in Dec 2019.
Who led Hometap's Series B round?
ICONIQ Capital led it, with General Catalyst, G20 Ventures, Pillar Ventures, American Family Ventures and Commerce Ventures and 2 more.
What was Hometap's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
22 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $19M, and this round was 5.3 times the median.
Did Hometap raise again after this round?
Yes: a Growth round in Dec 2021 of $60M.