Former Zillow CEO and Bezos Family Office Invests in Arrived Homes
Posted on 05/20/2022
Seattle-based Arrived Homes LLC is a real estate investing platform that allows anyone to buy shares in single-family rentals starting at just $100. Arrived Homes has raised a $25 million Series A led by Forerunner Ventures.
Returning investors include Bezos Expeditions (the personal investment company of Jeff Bezos), Good Friends (a venture fund run by the CEOs and co-founders of Warby Parker, Harry’s, and Allbirds), Spencer Rascoff (former CEO of Zillow), Core Innovation Capital, PSL Ventures, and Neo (Ali Partovi’s venture fund). Ali Partovi is an Iranian-American entrepreneur and angel investor. He is best known as a co-founder of Code.org, iLike, LinkExchange, an early advisor at Dropbox, and an early promoter of bid-based search advertising.
The Series A fundraise follows Arrived’s $37 million in seed funding and debt financing from June 2021, and the company’s $100 million credit facility financing announcement from December 2021.
Arrived is the first company with SEC approval to offer shares of individual homes. The $25 million in funds will be used to further build out the Arrived team, secure properties in new markets, and provide customers with the option to invest in short-term rental properties on the platform.
Since May 2021, Arrived has fully funded over 102 properties in Alabama, Arizona, Arkansas, Colorado, Georgia, North Carolina, and South Carolina, for a total of over $40M in rental homes across 16 metropolitan areas. In the coming months, Arrived will expand its offerings to include single-family rental and short-term rental properties in Florida, Texas, Nevada, and Indiana.