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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

November 14, 2013 at 10:46 AM

Investors pour another $50 million into Redfin

Redfin doubled its war chest today with a $50 million infusion from investors who see a big opportunity for the tech-centric, Seattle-based real estate brokerage.

The funding comes ahead of Redfin’s expected public stock offering in 2014.

Previously Redfin, which was started in 2002, had raised $47.5 million.

“We are delighted to have found partners who support our mission to make real estate better for consumers, not just ourselves, because this is the only way we know of to build a business for the ages,” Chief Executive Glenn Kelman said in the release.

Redfin has handled more than $13 billion in home sales since it started and is now seeing annual sales growth of more than 50 percent. The company’s also broadening its offerings to include services such as marketing of multifamily properties.

The new round was led by Tiger Global Management and T. Rowe Price Associates. Past investors Greylock Partners, Globespan Capital Partners, DFJ Venture Capital, Vulcan Capital and The Hillman Company also participated.

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