Funding round
Homeward Growth
Reported as "Growth Equity"
Homeward, which works in cash home buying services in Austin, raised $105M in a Growth round announced on 14 May 2020, led by Adams Street Partners. 3 firms took part. It is Homeward's first venture round on record.
$105M
Amount raised
of which $85M debt
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Homeward did not disclose a valuation in this round. It is Homeward's first venture round on record, 2 years after it was founded in 2018. It is 22% of the $476M Homeward has raised in the venture rounds on record. Homeward raised again 12 months later: a Series B round of $371M in May 2021.
Homeward's funding rounds
Homeward has 2 venture rounds on record. This one is highlighted.
- Growth this round 14 May 2020, led by Adams Street Partners $105M
- Series B 26 May 2021, led by Norwest $371M
Investors
Who put money in
Adams Street Partners led the round with 2 other firms.
Lead investor
- Adams Street Partners backs 61 venture-backed companies new investor
Also in the round
- backs 46 venture-backed companies new investor
- backs 51 venture-backed companies new investor
Joined the board: Jeffrey Diehl (Adams Street Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Mortgage Brokers, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Mortgage Brokers | 23 Apr 2021 | $280M | not disclosed | not named |
| Pipedrive Tech Companies | 18 May 2020 | $1.50B | not disclosed | Vista Equity Partners |
| Apeel Sciences Food Production | 26 May 2020 | $250M | $1.00B | GIC |
| Tech Companies | 12 May 2020 | $144M | not disclosed | Spectrum Equity |
| Learning, Tutoring & Courses | 1 May 2020 | $125M | not disclosed | AT&T |
| Payment Processing & Point of Sale | 28 May 2020 | $125M | not disclosed | Goldfinch Partners |
| Learning, Tutoring & Courses | 9 May 2020 | $123M | not disclosed | not named |
| Back Market Electronics Stores | 4 May 2020 | $120M | not disclosed | Goldman Sachs |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Homeward raise in its Growth round?
Homeward raised $105M in its Growth round, announced in May 2020.
Who led Homeward's Growth round?
Adams Street Partners led it, with Javelin Venture Partners and LiveOak.
What was Homeward's valuation at the Growth round?
It was not disclosed.
Did Homeward raise again after this round?
Yes: a Series B round in May 2021 of $371M.