Wilson Sonsini Advises Divvy Homes on $200 Million Series D
- Client Highlights
- Consumer Products and Services
On August 13, 2021, Divvy Homes announced the completion of a $200 million Series D financing that further extends their position as a market leader in the proptech industry. Divvy Homes' accelerating growth caught the attention of its lead investors, who preempted the Series D and valued Divvy Homes at approximately $2 billion. Wilson Sonsini Goodrich & Rosati represented Divvy Homes in the transaction.
The Series D round was led by Tiger Global Management and Caffeinated Capital, with participation from existing investors Andreessen Horowitz, GGV Capital, GIC, and Moore Specialty Credit. The round allows Divvy Homes to provide Americans with unprecedented access to the country's primary wealth-builder: homeownership. The company plans to use the Series D equity investment to further market expansion, launch new partnership channels, and efficiently deploy its new capital against ROI positive acquisition channels. Over 750,000 Americans have applied to Divvy Homes since 2017, when it was founded with a mission of creating a new path to homeownership through its innovative three-year homeownership program. The program is currently available across 16 major U.S. metropolitan areas.
For more information, please see Divvy Homes' press release.