Side Becomes A Unicorn Company Following $150 Million Series D Financing
Real Estate Technology Company, Side, Crosses $1 Billion Dollar Valuation and Announces National Expansion to Provide Brokerage Platform to More Top Agents and Teams
SAN FRANCISCO, March 22, 2021 /PRNewswire/ -- Side, the only real estate technology company that exclusively partners with the very best agents, teams, and independent brokerages to transform them into leading boutique brands and businesses, today announced a $150 million Series D funding round led by Coatue Management, a top global technology-focused investment firm. This latest round of financing establishes Side as one of the only real estate companies to achieve unicorn status. Founded in 2017, Side also celebrates becoming the fastest real estate company to reach the $1 billion valuation milestone, doing so in just four years. Side's combined funding now totals over $200 million, which includes support from leading venture capital firms including Matrix Partners, Trinity Ventures, and Sapphire Ventures.
Side's new funding round will support significant hiring to expand the platform and accelerate the company's national expansion efforts beyond its three operating markets of California, Texas, and Florida. Top-producing agents, teams, and independent brokerages from around the country will now have the ability to partner with Side, and for the very first time in history, gain full ownership of their own boutique brand and business without having to operate as a brokerage. With Side's expansion, the company will advance its mission of transforming the nation's best real estate professionals, teams, and independent brokerages into brands that are recognized as the service leaders in their communities.
"Today's top-producing real estate professionals are underserved and underappreciated by the existing brokerage models," said Guy Gal, Side co-founder and chief executive officer. "The incentives between brokerages and top agents and teams are misaligned. Existing brokerages are designed to support average agents, so they put all of the heavy lifting, cost, time, and risk of operations and growth on top-producing agents who want to focus their time on expertly serving their clients. Side was purposefully designed to enable top agents, teams, and independent brokerages to fulfill their aspiration and potential."
Side's white label brokerage model challenges the "big brand" status quo by exclusively marketing the agent's boutique brand and business to clients, while acting as their brokerage, technology, and support partner. Developed by industry professionals and world-class engineers, Side expertly operates the brokerage platform on the backend while providing a best-in-class technology stack to help partner agents predictably grow their businesses, while continuing to provide excellent service to their clients.
"Side shifts value, time, and equity from existing brokerages to the top agents and teams who actually create the value in the first place," said Gal. "The future of real estate is here, and with this financing, we are excited to continue partnering with and being of service to more of the world's best real estate professionals."
About Side
Side transforms high-performing agents, teams, and independent brokerages into successful businesses and boutique brands that are 100 percent agent-owned. Side exclusively partners with the best agents, empowering them with proprietary technology and a premier support team so they can be more productive, grow their business and focus on serving their clients. Side is headquartered in San Francisco. For more information, visit www.sideinc.com.
SOURCE Side
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