Redfin today announced an investment of $70.9 million, led by large institutional investors including Wellington Management Company, LLP, as well as Glynn Capital Management. Others include Brothers Brook, LLC, an investment firm led by Jeffery Boyd, chairman of the board of directors of The Priceline Group; and Annox Capital Management, led by Redfin board director Bob Mylod. Funds and accounts managed by T. Rowe Price Associates, Inc. and Tiger Global Management, LLC, who were among the investors from Redfin’s $50 million funding round in November 2013, are also participating.
Redfin has doubled the number of markets it serves over the past year, and this funding will support continued expansion to offer Redfin’s unique blend of full-service real estate and technology to millions of consumers. The money will also fuel Redfin’s ongoing development of new technology that makes every step of the home-buying and selling process better for those consumers.
For more information on the announcement, including Redfin CEO Glenn Kelman’s perspective, please check out the press release.