What is Sundae?
Sundae aims to provide homeowners with an optimal outcome when selling properties that need attention, offering a streamlined alternative to the traditional real estate sales process. Founded in August 2018 by industry veterans Josh Stech and Andrew Swain, the company leverages extensive local real estate experience to assist sellers who lack the time or resources for property repairs and staging. Headquartered in San Francisco, CA, with regional hubs in Los Angeles, CA, and Atlanta, GA, Sundae addresses a critical gap in the market by simplifying the sale of homes in need of love.
How much funding has Sundae raised?
Sundae has raised a total of $132.9M across 4 funding rounds:
Multiple Rounds
$52.9M
Series C
$80M
Debt (2020): $350K with participation from PPP
Series A (2020): $16.6M led by Susa Ventures, Founders Fund LLC, and QED Investors
Series B (2020): $36M supported by Susa Ventures, QED Investors, Navitas Capital, General Global Capital, Prudence Holdings Inc, and Founders Fund LLC
Series C (2021): $80M featuring Prudence Holdings, Founders Fund, QED Investors, Crossover VC, Oberndorf Ventures, Susa Ventures, Intersect Capital, General Global Capital, First American Financial, Fifth Wall, Gaingels, and Wellington Management
Key Investors in Sundae
Susa Ventures
Susa Ventures is an early-stage venture capital firm that invests in seed-stage startups, aiming to help build the next billion-dollar companies. Since its inception in 2013, the firm has partnered with over 100 startups, with 10% achieving unicorn status. Susa Ventures provides capital, community, and talent without taking board seats, believing that founders should retain control of their companies. Their portfolio includes notable companies across various sectors, including fintech, healthcare, and AI.
QED Investors
QED Investors is a global leading boutique venture capital firm based in Alexandria, VA. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in early stage, disruptive financial services companies in the U.S., U.K., Latin America and Southeast Asia. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages our partners' decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. Notable investments include Credit Karma, ClearScore, Nubank, SoFi, Avant, Remitly, GreenSky, Klarna, QuintoAndar, Loft, Konfio, Creditas, AvidXchange, Current and Mission Lane.
Founders Fund
Founders Fund invests in the world's most important and valuable companies across all geographies, sectors and stages. The firm's partners have been founders and early funders of companies including PayPal, SpaceX, Palantir, Anduril, Airbnb, Stripe and Facebook. Founders Fund pursues a founder-friendly investment strategy, providing maximum support with minimum interference.
What's next for Sundae?
The substantial enterprise-level capital infusion positions Sundae for accelerated growth and market penetration. This strategic financing is anticipated to enable the company to enhance its operational capabilities, expand its geographic reach, and further develop its technology platform. Sundae's focus on providing a worry-free selling experience for properties requiring work is likely to attract continued investor interest as it scales its innovative model within the real estate industry.
See full Sundae company page
