Roofstock Explained

Roofstock is an Oakland-based Fin-tech startup founded by Gary Beasley who serves as the CEO,^{[1] [2]} Gregor Watson who serves as the Chairman^{[3] [4]} and Rich Ford who serves as the Chief Development Officer.^[5] The startup was established in 2015.^{[6] [7]}

Roofstock is an online marketplace for investing in leased single-family rental homes. The company helps its clients by providing them with research, analytics, and insights to evaluate and purchase certified properties.The company pre-inspects rental properties with information about tenant, current rent, and property manager and makes this information accessible online. Users can compare investment properties around the country.

History

Roofstock Marketplace was launched in 2016and in 2017 the Roofstock Neighborhood Ratings was launched.It surpassed $1 billion in transactions in 2018.In July 2018, Roofstock acquired Streetlane, a Dallas-based single-family rental management company.^[8] In 2019, it surpassed $2 billion in transactions.^{[9] [10]} In 2022, Roofstock bought RentPrep, which was led by Steve White, CEO and founder.^[11]

Roofstock Neighborhood Rating Algorithm

Roofstock launched a “neighborhood rating algorithm,” that analyzes more than 72,000 Census tracts and ranks their risk. It includes factors like home values, average rent, income levels, employment rates, education levels, crime data, percentage of owner-occupied homes and school district ratings. Also, it ranks each neighborhood on a scale of 1 to 5, 1 being the most risky.^[12]

Awards and accolades

• 2017: Was listed as Best Small & Medium Workplaces™ 2017^[13]
• 2018: Was listed as Best Small & Medium Workplaces™ 2018^[14]
• 2019: Won the HousingWire Tech100.^{[15] [16]}
• 2019: Was named to the Forbes Most Innovative Fintech Companies list.^[17]
• 2019: Received the first ever Finovate Awards award for Best Alternative Investments Platform.^[18]
• 2019: Was listed as the Best Workplaces in the Bay Area™ 2019^[19]

Fundings

• 2016: Received Series A funding of $13.3 Million from Khosla Ventures, Ron Conway, Marc Benioff, Bain Capital and others.
• 2016: Received Series B funding of $20 Million.^[20]
• 2017: Received Series C funding of $50 Million led by Canvas Ventures.
• 2020: Received Series D funding of $50 Million led by SVB Capital.

References

1. Web site: Roofstock launches marketplace for purchasing rented homes. TechCrunch. 3 March 2016 . en-US. 2020-01-31.
2. Web site: Real Estate Fintech Roofstock Doubles Its Investor Base of Newbies. Fuscaldo. Donna. Forbes. en. 2020-01-31.
3. Web site: Roofstock Announces $7 Million In Additional Funding: Learn How The Startup Makes Property Investing Easier. White. Spencer. 2018-01-18. Benzinga. English. 2020-01-31.
4. News: U.S. property startup Roofstock raises more funding from SVB, others. 2018-01-19. Reuters. 2020-01-31. en.
5. Web site: Renters Are Buying Rental Homes Alongside Mom-And-Pops, Institutional Funds. Gose. Joe. Forbes. en. 2020-02-09.
6. Web site: Roofstock, a marketplace for single-family homes with tenants, just closed on $35 million in new funding. TechCrunch. 4 October 2017 . en-US. 2020-01-31.
7. News: 26 February 2019. New Single-Family Rental Pitch: Want to Buy a Piece of a House?. 2020-01-31. Bloomberg.
8. Web site: Roofstock Acquires Streetlane - silicontap.com. www.silicontap.com. 2020-01-31.
9. Web site: Roofstock, which makes it easier to buy a home as an investment property, just raised $50 million in new funding. TechCrunch. 8 January 2020 . en-US. 2020-01-31.
10. Web site: Roofstock Closes $50M SFR Equity Round. Welborn. Seth. 2020-01-13. DSNews. en-US. 2020-01-31.
11. Web site: 2024-08-07 . Roofstock acquires tenant screening platform RentPrep - FinLedger . 2024-08-07 . web.archive.org.
12. Web site: Landlord alert: New index aims to take the risk out of rental investing. Olick. Diana. 2017-07-14. CNBC. en. 2020-01-31.
13. Web site: Best Small & Medium Workplaces 2017. Great Place To Work United States. en-gb. 2020-01-31.
14. Web site: Best Small & Medium Workplaces™ 2018. Great Place To Work United States. en-gb. 2020-01-31.
15. Web site: Roofstock acquires single-family rental management platform. 2018-07-18. HousingWire. en-US. 2020-01-31.
16. Web site: 2019 HW Tech100 winner: Roofstock. 2019-04-01. HousingWire. en-US. 2020-01-31.
17. Petrenko. Liudmyla. Prykhodko. Ann. 2018-12-21. Analysis of the world's most innovative companies (Forbes list). Strategy of Economic Development of Ukraine. 43. 57–68. 10.33111/sedu.2018.43.057.068. 2312-9298. free.
18. Web site: Drumroll... Finovate Awards Winners Announced. 2019-09-25. Finovate. en-US. 2020-01-31.
19. Web site: Best Workplaces in the Bay Area™ 2019. Great Place To Work United States. en-gb. 2020-01-31.
20. News: Funding Snapshot: Home Rental Marketplace Roofstock Raises $20M Series B. 2016-11-14. Wall Street Journal. 2020-01-31. en-US. 0099-9660.