NEW YORK, Jan. 12— Welcome Homes, a New York City-based Proptech firm that offers luxury homes at a guaranteed price in only a few clicks, said that it has secured over USD 29 million in Series A investment led by Era Ventures. The fresh funds will be utilized to hire more employees to enhance Welcome Homes’ unique land technology further, create new house models, and expand into other markets across the United States.
“Welcome Homes is a one-stop shop for custom house construction. You have this gorgeous house that you can design online, and six months later, you have it in real life without having to be engaged in the process, “said client Daniel S., who used Welcome Homes to build his vacation home in Woodstock, New York.
Housing building needs to catch up to the population increase. Home availability is dwindling, with the US housing market undersupplied by more than 5.5 million units. Welcome Homes has created a technologically advanced platform that enables construction on teardowns and vacant lots scalable. With a few clicks, house purchasers and real estate investors may now obtain access to thousands of pre-vetted and price-locked properties and begin developing stunning new homes.
“Welcome Houses solves the severe housing need by productizing and speeding the delivery of beautiful new homes,” stated Alec Hartman, Welcome Homes’ Co-Founder, and CEO. “We should be creating the world we wish to live in. We raise the bar for new house construction, which will significantly alter people’s lives.”
Era Ventures led the investment, including Parker89, Montage Ventures, Fundamental, Global Founders Capital, Activant Capital, Gaingels, Elefund, and Arkin Holdings. In connection with the transaction, Clelia Warburg Peters, Managing Partner at Era Ventures, will join the board of directors of Welcome Homes. Peters has a vast network and expertise from the real estate and venture capital industries, having previously served as President of Warburg Realty (now Coldwell Banker Warburg) and as a Partner at Bain Capital Ventures.
Welcome Homes was formed by the co-founding team of DigitalOcean (NYSE: DOCN), and the firm has employed real estate industry professionals from Compass, Toll Brothers, and HGTV. Since its inception in early 2021, Welcome Homes has had exponential year-over-year growth in Northeast cities such as New York, New Jersey, Connecticut, Pennsylvania, and Maryland.
