Opendoor, founded in 2014 by Eric Wu, JD Ross, Ian Wong, and Keith Rabois, has raised $1.35B across Series E and Post-IPO rounds, including $850M in Aug 2021 and $400M in Sep 2018. The company digitizes home buying and selling with instant offers, remote assessments, inspections, and closing services. Funding supported inventory build, product integrations, and national scaling. Opendoor combines automated valuation, retail real estate, and optional mortgage services to accelerate transactions. Key investors include Khosla Ventures and General Atlantic.
Keep reading to see how Opendoor transformed residential real estate transactions.
What Is Opendoor and What Does It Do?
Opendoor, founded in 2014 by Eric Wu, JD Ross, Ian Wong, and Keith Rabois, is a San Francisco–based (United States) app-driven residential property reseller. Opendoor employs 2,313 people.
The company offers instant home offers, remote assessments, inspection and closing coordination, and optional mortgage and insurance products. Opendoor provides a faster, technology-enabled alternative to traditional agent-driven or for-sale-by-owner processes.
How Much Funding Has Opendoor Raised?
1. Series E
- Amount Raised: $400M
- Date: Sep 27, 2018
- Lead Investors: SoftBank Vision Fund
- Purpose: Rapid geographic expansion and inventory build
2. Series E
- Amount Raised: $300M
- Date: Mar 20, 2019
- Lead Investors: General Atlantic, GGV Capital, Khosla Ventures, NEA, SoftBank, Lennar, Norwest
- Purpose: Scale operations, technology, and home retail capabilities
3. Post IPO
- Amount Raised: $850M
- Date: Aug 18, 2021
- Lead Investors: Institutional and strategic investors
- Purpose: Strengthen balance sheet, acquire inventory, broaden product stack
Total Funding Raised: $1.35B
Latest Funding Date: Aug 18, 2021
Current Valuation / Post-money: Public company (valuation varies)
Key Investors
- Khosla Ventures
- Details: Early-stage and growth investor focused on bold tech bets
- Focus Areas: Marketplaces, real-estate tech, AI, deep tech
- Notable Investments: Square, DoorDash, Impossible Foods, Instacart, Stripe
- General Atlantic
- Details: Global growth equity investor backing scaling companies
- Focus Areas: Consumer internet, fintech, healthcare, marketplace platforms
- Notable Investments: Airbnb, Alibaba (secondary exposure), Slack, Avito, Neusoft
- GGV Capital
- Details: Global venture firm investing across phases and geographies
- Focus Areas: Consumer marketplace, cloud, AI, mobility
- Notable Investments: Airbnb, Wish, Opendoor, Didi, Square
- SoftBank Vision Fund
- Details: Growth-stage fund backing category-defining tech platforms
- Focus Areas: Marketplaces, mobility, fintech, proptech
- Notable Investments: WeWork, Uber, DoorDash, Grab, Arm holdings
- NEA / Norwest
- Details: Large institutional investors with deep enterprise and consumer portfolios
- Focus Areas: Enterprise software, marketplaces, consumer internet
- Notable Investments: Coursera, Robinhood, Uber, Chime
Where Is Opendoor’s Headquarters?
Opendoor is headquartered in San Francisco, California, near proptech, mortgage tech partnerships, and talent.
What’s Next for Opendoor?
Opendoor will focus on inventory optimization, tighter mortgage and title integrations, price stability during housing cycles, and expanding its retail/homeholding strategy to improve unit economics and reduce time-to-resale.
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