Opendoor, a tech startup that buys and resells houses, has reportedly secured a $210 million funding at a valuation of at least $1 billion. Norwest Venture Partners is said to have led the round, which also saw participation from New Enterprise Associates and existing investors like Khosla Ventures and GGV Capital. Founded in 2014 and headquartered in San Francisco, Opendoor offers a platform designed to make it easy for homeowners to sell their homes, which the company then flips. Opendoor currently purchases houses in Phoenix, Dallas-Fort Worth and Las Vegas; it plans to expand to 10 cities in 2017.
Here’s a look at Opendoor's financing history, along with valuations associated with each round:
September 2014: $10M round | $32M valuation February 2015: $20M | $132M October 2015: $80M | $559M November 2016: $210M | $1B