Funding Friday: Foundry Group raises $25M for new fund

Welcome to Funding Friday, BizWest’s roundup of companies in Northern Colorado and the Boulder Valley kicking off fundraisers. BizWest reports […]
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[Link] Foundry Group leads $400M Series B for real estate tech firm

BOULDER — Foundry Group, a Boulder-based venture capital firm, recently led a Series B effort that raised $400 million in equity and debt financing for real estate technology firm Knock. Knock, based in New York and San Francisco, is developing a real estate marketplace platform that allows users to trade in their homes the way they would a vehicle. The company plans to use its newly raised capital “to continue its nationwide expansion and accelerate the development of the proprietary technology behind its unique Home Trade-in platform,” according to a company news release. “At Knock we believe the only way to revolutionize the real estate industry is by addressing both home buying and selling, given 71 percent of consumers are doing both at the same time, which is why we’re creating a marketplace solution with our Home Trade-in platform,” Knock CEO Sean Black said in a prepared statement. In addition to Foundry Group, investors RRE Ventures, Corazon Capital, WTI, and FJ Labs and Company Ventures participated in the funding round. Foundry Group partner Seth Levine has joined Knock’s board of directors. “At Foundry we love working with passionate founders who are on a mission to fundamentally change an industry,” Levine said in a statement. The Knock team is exactly that — combining years of experience in real estate technology with a fundamental drive to change the way consumers buy and sell homes.”

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