Novel Net Operating Income Model Guarantees Investment Performance
SAN JOSE, Calif.–(BUSINESS WIRE)–#investing—Home365, a best-in-class tech-enabled platform making real estate investing and property management accessible to the masses, today announced a Series B round of $26M, led by Viola Growth, Israel’s leading growth fund. This round follows a series A round of $16.3 funding round in June 2021 led by Greensoil PropTech Ventures, leading innovators and experts in climate-tech investing, and existing investors Eyal Ofers O.G. Tech, Gatewood Capital, Verizon Ventures, Samsung Next, Lool Ventures and North First Ventures. Most of those investors have joined Viola Growth and have also participated in the current round
Home365 currently manages more than $1.5B in investment assets across 7,000 properties in 17 cities and seven states. Home365 helps investors through real estate investing education, acquisition of investment properties, day-to-day property management of the assets across multiple metros, and growing their portfolio over time while underwriting the performance of their assets.
It plans to use this funding investment to further deepen the functionalities of their real estate investing and management platform as well as to expand to multiple cities across the country including Chicago, Seattle, Phoenix, and more. The company delivers a patent pending novel net operating income guarantee model that secures the performance of the real estate investor’s assets, while lowering the stress and variance of their portfolio performance.
Home365 has reimagined real estate investment and property management with its AI-powered platform that automates and guarantees nearly every aspect of real estate investment from acquisition to management to maintenance and operating expenses. The platform efficiently automates highly labor-intensive property management and maintenance processes, which decreases errors and profit-loss for investors. It manages an integrated mobile app Market-Network of over 5,000 maintenance vendors, through an AI powered maintenance repair solution to get home maintenance resolved transparently and quickly. Finally, tens of millions of dollars monthly are processed via the accounting platform to generate live Income statements for owners and app-based ledgers for residents.
“Our goal is to democratize and “unlock the wealth” associated with real estate investing for everyone across the globe by removing the risks and hassles. In fact, we have introduced a new financial asset class that drives predictable and passive ROI as an alternative to any other way of passively saving. Our DNA as a company as well as our software is wired around managing people’s money and meeting their financial goals. Our model attracts not only professional Investors who embrace peace of mind but especially a new market segment of people who are interested in diversifying their cash into a Real Estate without the pains associated with being a landlord,” said Home365 Founder and CEO Daniel Shaked.
“Home365 is bringing significant value to its clients that is wholly unique in the market, as demonstrated by our recent expansion rate of at least one new metro service area per month. Home365’s AI-driven platform was built from the ground up to be flexible, extensible, and above all scalable, fitting our plans to now expand into multiple new domestic metro areas in 2022 and beyond, while building international channels to attract real estate investors overseas.” added Chad Gallgher, Home365 Chief Investments and Growth Officer.
“Home 365 has brought an elegant technology solution to a traditional property management industry that is responsive to tenant and owner’s needs for capabilities long afforded to large investors and institutions.” said Rafi Carmeli, General Partner at Viola Growth. “There are countless variables affecting real estate investments. Home365 is using advanced AI technology and its deep bench of expertise to control for as many of these uncertainties as possible, making real estate investment easier, more profitable, and ultimately more accessible than ever before.”
Home365’s claims and property management platform automates labor intensive maintenance processes, financial transactions, property accounting and digitizes communications. The Home365 system uses a patent pending machine learning underwriting engine to deliver a cost-effective property management solution to improve the resident’s experience and deliver consistent, superior financial returns for owners. The team identifies qualified tenants, conducts credit, background, and rental history checks. Tenants are able to report maintenance and repair issues through the Home365 app, guaranteeing quick attention and accountability.
Based in Silicon Valley with an R&D center in Tel-Aviv, Israel, Operations hub in Lancaster, PA, Home365 has made real estate investment in single family and small multifamily for the small to medium investor profitable, predictable and hassle free. Analyzing and underwriting more than 40 data points such as property age, size and location Home365 provides investors with an affordable performance guarantee and a one-stop option that handles all aspects of property ownership including management, vacancy, day-to-day maintenance and operational costs. Visit https://www.home365.co