Opendoor announces Jeff Crowe to its Board along with the closing $210m Series D round led by Norwest Venture Partners

– USA, CA – Opendoor announces the closing of its $210M Series D led by Jeff Crowe at Norwest Venture Partners with participation from NEA and existing investors. Opendoor, the consumer marketplace for homes, will use the capital to expand on its mission of simplifying the home buying and selling process and scale the service to 10 cities in 2017. Currently operating in Phoenix and Dallas Fort-Worth, the company is transacting over $60M in home volume each month and has served over 4000 homeowners since launching two years ago.

Opendoor’s fresh capital infusion will be used to expand market share in flagship markets and bring its simple home buying and selling experience to thousands of new customers across the country. In addition to Norwest Venture Partners and NEA, other investors who participated in the funding round included Khosla Ventures, GGV Capital, Access Industries, Fifth Wall, Lakestar, SVB Capital, Caffeinated Capital, and Felicis Ventures.

Jeff Crowe, Managing Partner at Norwest Venture Partners will take a board seat as part of the round.

“Norwest is excited to partner with Eric Wu and the Opendoor team through the company’s next stage of growth and its expansion into new markets. The company is offering a truly novel product for home buyers and sellers and its vision for the future of real estate is incredibly compelling.”

Rick Yang, General Partner at NEA, who participated in the round, commented, “We share Opendoor’s vision to transform the complex process of selling and buying a home into a simple, seamless transaction for all homeowners. The Opendoor team is rebuilding the entire process from end-to-end.”

Opendoor, now transacting over $60M in home volume each month, is focusing on scaling its consumer experience into new markets. “We are fortunate to have the support from investors that believe in our long-term vision and our ability to build an iconic, industry-defining company. As we look to scale Opendoor to dozens of cities, we are focused on building a world-class customer experience centered around transparency and trust,” said Eric Wu, CEO of Opendoor.

The company employs over 200 people in its San Francisco, Phoenix and Dallas offices. Opendoor was recently recognized by Inman, the pre-eminent publication in the real estate industry, as the most innovative real estate company two years running.

About Opendoor

Opendoor, the consumer marketplace for homes, removes all the headache, uncertainty, and risk from buying and selling real estate. Headquartered in San Francisco with offices in Phoenix and Dallas, Opendoor was founded in March 2014 by Keith Rabois, an investment partner at Khosla Ventures, and CEO Eric Wu.

For more information, please visit www.opendoor.com.

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