The real-estate startup Opendoor is raising $200 million at a $3.7 billion valuation, according to company filings obtained by TechCrunch. Opendoor aims to circumvent brokers by buying up houses in nearly two dozen U.S. cities and allowing customers to purchase directly from its inventory. 800,000 people toured its homes in 2018.
Opendoor’s latest valuation is more than $1 billion higher than its September post-money valuation of $2.47 billion. The new funding round follows two large fundraisings, in September and June 2018, of $400 million and $325 million, respectively. And it comes as the market for housing startups becomes more competitive: Opendoor’s competitor Knock raised $400 million a month ago, according to TechCrunch.