Auction.com is a leading online marketplace for residential real estate auctions, enabling buyers, investors, and institutions to discover, research, bid on, and acquire properties through a fully digital ecosystem. The platform specializes in bank-owned, foreclosure, short-sale, and investment-grade properties, offering transparency with detailed property data, valuation insights, bidding history, and independent due-diligence resources. Users can participate remotely via web and mobile apps, making the property acquisition process faster and more accessible.
What Is Auction.com and What Does It Do?
Auction.com, founded in 2007 by Jeff Frieden and Robert Friedman, is an Irvine-based (United States) online real estate marketplace built to simplify the buying and selling of residential properties through digital auctions. The platform enables remote bidding, foreclosure investment, and access to detailed property intelligence accessible via its website and mobile apps.
Auction.com employs 1,959 people, supporting a large-scale technology and operations infrastructure.
Auction.com provides real-time bidding tools, property analytics, title and occupancy details, and secure transaction management. Its platform empowers investors, agents, and lenders with improved liquidity, faster sales cycles, and enhanced transparency in distressed asset buying.
How Much Funding Has Auction.com Raised?
1. Series A
- Amount Raised: $50M
- Date: March 2014
- Lead Investors: CapitalG
- Motivation: Scaling the online residential auction platform, expanding data/analytics capabilities, and accelerating national market penetration.
2. Series A (Earlier Round)
- Amount Raised: $91.7M
- Date: January 2013
- Motivation: Strengthening auction operations, increasing property inventory, and improving transaction infrastructure.
3. Seed Round
- Amount Raised: $50K
- Date: August 2012
- Motivation: Early platform development and foundational technology investment.
Total Funding Raised: $142M
Current Valuation: $1.2B (as of March 2014)
Latest Funding Date: March 2014
Key Investors
1. CapitalG
- Details: Google’s growth equity investment arm, backing high-growth technology companies.
- Investment Focus Areas: Fintech, AI, marketplaces, cybersecurity, SaaS.
- Notable Investments: Stripe, Airbnb, Duolingo, Robinhood, Lyft.
2. Stone Point Capital
- Details: Private equity firm specializing in financial services and real estate.
- Investment Focus Areas: Insurance, real estate tech, specialty finance, asset management.
- Notable Investments: Blackstone Mortgage Trust, CoreLogic, Truist Insurance, Alliant Insurance, Longevity Holdings.
Where Is Auction.com’s Headquarters?
Auction.com is headquartered in Irvine, California, a major hub for real-estate technology innovation. The location offers access to a deep talent pool in prop-tech, legal services, asset management, fintech, and real estate operations uniquely positioning the company near key banking, default servicing, and foreclosure partners.
What’s Next for Auction.com?
Auction.com continues enhancing data transparency, AI-driven property insights, and remote bidding capabilities to improve investor outcomes. The company is expanding integrations with lenders, servicers, and asset disposition teams to accelerate time-to-sale for distressed properties.
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