Lead-gen startup HomeLight lands $109M in new funding round

HomeLight, which began its life matching sellers and buyers with real estate agents, has much bigger ambitions. And it’s just raised $109 million in new financing to build up mortgage lending and instant buying operations.

Zeev Ventures led the round, which also included Group 11, Menlo Ventures, Crosslink Capital and Stereo Capital, HomeLight announced Tuesday. The deal includes $63 million in Series C equity and $46 million for mortgage operations.

The San Francisco-based company, which launched in 2012 and claims to match a client with a broker every two minutes, said it will grow its platform to link agents and investors. It also will build consumer financial and lending products and increase the coverage for its transactional tools.

The financing round comes as numerous players are working to amp up their lead-generation business. Real estate data firm UrbanDigs, for example, is launching Sell My Apartment, which would work to link sellers with three possible agents in an hour.

HomeLight has been working to diversify its offerings. Earlier this year, the startup opened a division that offers title and escrow services. It also got into the instant home-buying business, launching Simple Sale to connect sellers with people who want to buy a house online, all of which flows through an agent.

HomeLight, headed by Drew Uher, has raised about $165 million in total funding.