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§ Private Profile · San Francisco, CA, USA
Sundae is a technology company.
Sundae operates an online marketplace that connects homeowners looking to sell distressed properties with a network of local real estate investors. The platform enables sellers to dispose of their homes in "as-is" condition, bypassing the traditional need for repairs, cleaning, or staging, while aiming for the highest off-market price. Its core offering provides a streamlined, fee-free process designed for speed and convenience, differing from conventional real estate transactions.
The company was co-founded in August 2018 by Josh Stech and Andrew Swain, both seasoned executives in the real estate and marketplace sectors. Their foundational insight stemmed from recognizing a significant gap in the market for homeowners burdened with properties requiring substantial rehabilitation or facing difficult selling circumstances. Stech and Swain built Sundae to offer a transparent and equitable alternative to traditional "we buy ugly houses" operations, leveraging their extensive industry experience.
Sundae primarily serves homeowners who own properties that might not qualify for conventional sales channels due to their condition. The company’s overarching vision is to transform the selling experience for these specific homeowners, ensuring they can achieve optimal outcomes without the typical burdens associated with selling a less-than-perfect house. It aims to empower sellers by providing choices and certainty in often challenging situations.
Sundae has raised $133.0M across 3 funding rounds.
Sundae has raised $133.0M in total across 3 funding rounds.
Sundae is a technology-enabled real estate marketplace that connects homeowners selling their houses as-is directly to a network of investors, streamlining the process without traditional real estate hassles.[4][5] It serves homeowners seeking quick, cash offers and investors looking for off-market deals, solving pain points like lengthy sales, repairs, and agent fees in a fragmented resale market.[4] The company has shown strong growth momentum, raising over $173 million across funding rounds, including a $50M Series C in 2022, backed by prominent VCs like Founders Fund, QED Investors, and Fifth Wall Ventures.[4]
Sundae was founded by Josh Stech (CEO), along with experienced finance and operations executives who previously built leading technology and marketplace businesses.[4][5] The idea emerged from recognizing inefficiencies in the as-is home sales market, where homeowners often face lowball offers or complex processes; the team leveraged their expertise to create a transparent investor network for competitive bids.[5] Early traction came via a seed round of $3.15M in 2018, followed by rapid scaling through Series A ($16.55M in 2020) and B ($32.92M in 2020), culminating in substantial Series C funding that fueled nationwide expansion.[4]
Sundae rides the proptech wave transforming real estate through marketplaces and data-driven matching, capitalizing on post-pandemic shifts toward faster home sales amid high interest rates and inventory shortages.[4][5] Timing aligns with iBuyer pullbacks (e.g., Opendoor challenges), creating space for hybrid models like Sundae's investor-focused approach that thrives in volatile markets.[4] It influences the ecosystem by democratizing access to institutional capital for homeowners and providing investors with proprietary deal flow, accelerating proptech consolidation and efficiency in a $2T+ U.S. resale market.[5]
Sundae is poised for expansion into new geographies and adjacent services like financing or renovations, leveraging its funding and network amid stabilizing housing trends.[4] Rising AI-driven valuations and embedded fintech will shape its trajectory, potentially positioning it for IPO or acquisition as proptech matures. Its investor-centric model cements Sundae as a resilient marketplace leader, delivering frictionless as-is sales at scale.[4][5]
Sundae has raised $133.0M in total across 3 funding rounds.
Sundae's investors include General Global Capital, Kevin Hartz, Addition, Afore Capital, Andreessen Horowitz, Audrey Capital, Craft Ventures, CRV, Dreamers VC, Electric Capital, Fifth Wall, FJ Labs.
Sundae has raised $133.0M across 3 funding rounds. Most recently, it raised $80.0M Series C in July 2021.