Stoa USA Inc., the company that launched the FlipOS platform for professional single-family home investors, announced it raised an additional $50 million equity round to finance expansion of its property technology.
The funding from Zeev Ventures allows FlipOS to accelerate its mission to close the housing gap in the U.S. The team plans to partner with more real estate investors in existing and new markets and continue rapid development of the FlipOS platform. With a unique business model focused on partnerships with professional investors, and technology that streamlines every step of the process, FlipOS can purchase, renovate, and sell single-family homes up to four times faster than existing business models.
“Our team is thrilled to be raising this $50 million round at a significantly higher valuation than our previous round, which just closed last November,” said Stoa co-founder Or Agassi. “Our continued growth indicates that we’re meeting a real need for real estate investors while providing communities across the country with good homes.”
Oren Zeev, founding partner of Zeev Ventures, said, “The Stoa team has built something truly unique with potential to dramatically change the way the single-family investment market operates. I am proud to support them in creating more good single-family homes through technology.”
The raise will also create new jobs in FlipOS’ headquarters market of Phoenix. The company plans to employ 200 people by the end of 2022, a 300% increase from the start of the year.
“We have already seen tremendous success with this product, and with this funding, we will be able to speed up our progress in product and engineering as well as our sales and marketing efforts,” said Stoa co-founder Tom Sella. “We are excited to expand into new U.S. markets and deepen our partnerships with the real estate community in our current markets.”
Since the company’s launch at the beginning of 2021, Stoa has raised nearly $200M in equity and debt.
Stoa USA Inc. is a Phoenix, Arizona-based property technology company dedicated to closing the housing gap in America. Its software platform, FlipOS, enables real estate investors to purchase, renovate, and sell homes faster and more efficiently. The company supports investors with low-rate lending, detailed scopes of renovation work, and a guaranteed post-renovation purchase offer with a five-day close.