– USA, NY – Orchard, the company that is radically simplifying home buying and selling, today announced that it has raised $100 million in a Series D funding round led by Accomplice with participation from FirstMark, Revolution, First American, Juxtapose, and a syndicate of new investors.
In addition to the new funding, Christa Quarles will be joining the board of directors in October 2021.
Christa Quarles is the CEO of Corel Corporation and has more than two decades of experience in leading and advising companies across multiple operational disciplines including consumer internet, fintech, and marketplace business models. Before joining Corel, she served as CEO of OpenTable, leading the company through a period of transformational change and innovation. Previously, she served as Chief Business Officer of Nextdoor, a marketplace connecting local communities to small businesses, and SVP and GM of The Walt Disney Company’s online gaming division.
With this new round of financing, the company’s valuation exceeds $1 billion, propelling the company to unicorn status.
This new round of equity funding will support continued growth and innovation. Orchard will expand to four new markets in 2022 and launch new services to offer millions of more home buyers a better way to purchase their dream home. Since its inception, Orchard has raised $255 million in total equity.
“We’re proud to have built a business that gives the consumer unparalleled convenience, certainty, and control when buying a home.” said CEO and co-founder, Court Cunningham. “We’ve had a year of hyper growth, but at Orchard, it’s still day one for transforming residential real estate in favor of the customer. This funding will allow Orchard to continue to innovate for our customers and expand geographically to offer our services to millions of more homeowners across the country.”
“We are excited to once again back Court and the Orchard team, and as insiders, we are in the best position to lead this round. Over the last four years we have witnessed Orchard’s strong growth and inspired customer focus,” said Jeff Fagnan, Founding Partner of Accomplice. “We actively seek the best places to concentrate our capital, and we are confident in Orchard’s position as a long-term winner in the space.”
Orchard is radically simplifying the home buying and selling experience from search to close. Traditionally, homeowners looking to purchase their next home face a stressful and uncertain process—they have to either sell their old home first and move twice or buy as a contingent buyer and risk not getting their dream home. Orchard pioneered the “buy before you sell” model in real estate with its Move First offering: after enabling the customer to move into their new home, Orchard sells their old home for top dollar. Orchard’s products and services have transformed the home buying and selling experience with AI-powered home search and a vertically integrated platform with Orchard Home Loans, Orchard Title, and Orchard Insurance, offering an all-digital closing for customers. Orchard is headquartered in New York City and offers its services in Colorado, Georgia, Texas, North Carolina, Maryland, and Virginia.
Founded in New York City just four years ago, Orchard now has more than 500 employees across the country and has helped customers buy and sell billions of dollars worth of homes throughout its markets.
For more information : https://orchard.com/
Accomplice is a seed-led venture capital firm that embraces risk. We have been part of the origin story of AngelList, Carbon Black, Coinlist, Currencycloud, FLOW, DraftKings, FalconX, Freshbooks, Integral Ad Science, Hopper, Luna, Near, Orchard, Patreon, PillPack, Plastiq, Recorded Future, SecurityScorecard, Skillz, Veracode, Work Human, WHOOP, and Zoopla.
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