Side nabs $50M in latest funding round

VC-backed brokerage doubles valuation to $2.5B, prepares for IPO

New York /
Jun.June 28, 2021 05:56 PM
Side CEO Guy Gal (Side, Getty)

Side CEO Guy Gal (Side, Getty)

Side, the white-label brokerage with VC backing, has secured $50 million in its latest funding round, raising its valuation to $2.5 billion.

Hedge fund Tiger Global Management led the round, Side announced Monday. Family office ICONIQ Capital, known for managing Mark Zuckerberg, Sheryl Sandberg and Jack Dorsey’s money, also participated; along with D1 Capital Partners.

The investment comes a few months after the Guy Gal-led firm closed $150 million in Series D funding at a valuation of $1 billion.

Side is preparing an initial public offering and the new valuation vaults it into the upper ranks of residential brokerages, but still well behind Compass’ IPO valuation of just over $7 billion.

The San Francisco-based company said it will enter 15 new states by the end of the year. It now operates in California, Florida and Texas, with more than 1,800 partner agents.

Side was founded in 2017 and received initial funding from venture capital firms including Trinity Ventures and Matrix Partners, along with other real estate investors. Its total funding has now exceeded $250 million, the company said.

Last year, Side recruited a number of top agents in Los Angeles, including Compass’ Kofi Nartey and a seven-member luxury agent team, also from Compass.





    Related Articles

    arrow_forward_ios
    1107 Fifth Avenue and Richard Eisner (CityRealty, The New Jewish Home)
    EisnerAmper co-founder sells Carnegie Hill co-op for $35M
    EisnerAmper co-founder sells Carnegie Hill co-op for $35M
    A photo illustration of Vishal Garg, chief executive officer, Better.com (Better.com, iStock)
    Better.com CEO returns to role after Zoom layoffs controversy
    Better.com CEO returns to role after Zoom layoffs controversy
    (iStock/Illustration by Steven Dilakian for The Real Deal)
    Black mortgage applicants’ rejection disparity surges
    Black mortgage applicants’ rejection disparity surges
    Redfin CEO Glenn Kelman (Redfin, iStock)
    Service divide at forefront of Redfin discrimination suit
    Service divide at forefront of Redfin discrimination suit
    Milo Founder and CEO Josip Rupena (iStock, Milo Credit)
    Crypto-rich but can’t buy a home? Now you can
    Crypto-rich but can’t buy a home? Now you can
    Side's Guy Gal and John Wollberg
    Brown Harris Stevens defector kicks off Side’s entrance into New York
    Brown Harris Stevens defector kicks off Side’s entrance into New York
    Outpaced demand spurred largest decline in 18 months: Redfin (iStock)
    U.S. home sales dropped 11% amid waning supply
    U.S. home sales dropped 11% amid waning supply
    Serhant brings in two Compass teams
    Serhant brings in two Compass teams
    Serhant brings in two Compass teams
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...