Israeli-Founded Proptech Firm Home365 Raises $16.3M

Israeli-founded property management company Home365 has raised $16.3 million in a funding round led by Greensoil PropTech Ventures, the venture capital fund headed by co-founder and chairman Canadian billionaire Alan Greenberg, the company announced on Tuesday.

Existing investors in the round include Eyal Ofer’s O.G. Tech, Verizon Ventures, Lool Ventures and North First Ventures.

Founded in 2016, Home365 developed a platform that offers hybrid insurance and property management to investors of rental properties in the US. Home365 says it now manages 7,000 units with a total valuation of approximately $1 billion, across six states with local offices in 14 major cities including Las Vegas, Atlanta, Philadelphia, Pittsburgh, and Baltimore.

The company says it is addressing a growing market for investment properties across the US with foreign and domestic investors finding difficulty managing their assets. The platform is powered by a machine-learning proprietary underwriting (patent pending) engine, and predicts maintenance, repairs, and various resident-related events, while generating a monthly fixed premium fee that guarantees the net operating income (NOI) for a given asset.

Home365 is headquartered in Santa Clara, California with offices an R&D center in Tel Aviv, Israel. It has 85 employees, 15 of them in its Tel Aviv. The company said it intends to multiply the number of employees in Israel by the end of the year.

To date, Home365 has raised $24 million and indicated it would use the fresh funds to accelerate its end-to-end technology platform and its expansion into more than 50 top markets across the United States. 

Home365 also announced the acquisition of SlateHouse Property Management and Realty, one of the largest and fastest-growing US scatter site property management companies.

“Home365 provides proptech optimization for property owners by boosting margins, reducing risk and diminishing the unpredictability that comes from owning and operating smaller-sized rental portfolios,” said founder Daniel Shaked. “Being focused on delivering passive and predictable financial results, Home365 in fact invented a new asset class that transforms the risky nature of being a real estate investor into an all accessible ‘savings account’ experience.”