Simply Homes, a Portland, Maine-based automated Single Family Rental (SFR) sourcing and underwriting platform, has secured $22 million in funding for operations and real estate acquisitions.
SaaS Investors
The funding round was led by Gutter Capital and Watchung Capital, with participation from Village Global, Ambush Capital, RavenOne Ventures, Neil Parikh, Gabe Flateman, Luke Sherwin, and others.
Founded in 2021, Gutter Capital is a venture capital firm based in New York. The firm seeks to invest in healthcare, education, housing, economic mobility, sustainability, software, SaaS, and marketplace sectors.
Watchung Capital is a real estate investment manager that specializes in implementing innovative operating concepts at the assets they acquire. Established in 2020, the firm focuses on opportunities in commercial, hospitality, and residential properties across the US.
Simply Homes Use of Funds
The company plans to use the funding to expand into additional markets across the Midwest in 2024 and develop AI-powered virtual analysts to enhance its data-driven approach.
About Simply Homes
Simply Homes is an automated SFR sourcing and underwriting platform addressing the affordable housing crisis by mobilizing stagnant housing stock. The company's platform optimizes the acquisition, renovation, and leasing of housing stock to make it available to lower-income families. Simply Homes leverages its proprietary ML and AI-powered automated sourcing and underwriting platform to identify, value, and acquire stagnant housing stock and make it available for their next family—primarily those eligible for HUD's Housing Choice Voucher program.
Funding Details
Company: Simply Homes, Inc.
Raised: $22.0M
Round: Unknown
Funding Month: December 2023
Lead Investors: Gutter Capital and Watchung Capital
Additional Investors: Village Global, Ambush Capital, RavenOne Ventures, Neil Parikh, Gabe Flateman, Luke Sherwin
Company Website: https://www.simplyhomes.com/
Software Category: Real Estate
Source: https://www.prnewswire.com/news-releases/simply-homes-secures-22m-to-expand-us-affordable-housing-302008860.html