Media Release
Link to Post
PLACE Raises $100 Million, Led by Goldman Sachs Asset Management, at a $1 Billion Valuation
Social Media
Facebook Messages
Message for Operators
As many of you know, the (insert team name) with (insert brokerage) is powered by an industry leading technology and business services platform called PLACE.
Today, I am so excited to announce that PLACE has raised $100 million from Goldman Sachs at a $1 BILLION valuation. While the numbers are impressive, more important is the significant impact that this funding will have on my team and our clients!
The newly raised capital will be spent to deepen the technology and services that we provide to our agents so they can continue to deliver exceptional service. For instance:
- Enhance our end to end technology platform that we use daily so that we can spend more time helping buyers buy and sellers sell
- Help us continue to simplify the homeownership process through a combination of technology and new home services
- Provide our amazing agents with best of industry benefits like health insurance, revenue share, and access to company stock plans
I am so proud of my (insert team name) with (insert brokerage name) that is powered by the PLACE Platform.
Before I go – Here are a few of the most common questions I have gotten so far:
Is PLACE a brokerage? No – PLACE is a technology and business services platform that supports agents from any brokerage.
What does this mean to home sellers and buyers?
This means that we will have even more tools and resources to help clients with one of the most important financial decisions in their life.
Does this announcement help my agents and me personally?
Yes! All of us now have access to robust health insurance plans and the opportunity to be stockholders in PLACE
I haven’t heard about PLACE and I am an agent. Is this something I should look into? Yes, PLACE is available to all agents from all brokerages in the US and Canada.
#PoweredByPLACE #RealEstate #Technology (insert brokerage hashtag)
Message for Agents
As many of you know, the (insert team name) with (insert brokerage name) is powered by an industry leading technology and business services platform called PLACE which I am honored to be a part of.
Today, I am so excited to announce that my company PLACE has raised $100 million from Goldman Sachs at a $1 BILLION valuation which will allow us to significantly increase the services we provide locally to buyers and sellers.
This new partnership between Goldman Sachs and PLACE will accelerate my ability to deliver the dream of homeownership to more of you who are considering buying, selling, or investing in real estate.
It’s incredible to think that I get to work with the best team, at the best brokerage, and be powered by PLACE. I am so proud that #IFoundMyPLACE with (insert team name) at (insert brokerage name)! You can read more about this exciting news in the link below.
#PoweredByPLACE #RealEstate #Technology (insert brokerage hashtag)
Social Media
Twitter Message
Proud that (insert team handle) w/(insert brokerage handle) is @poweredbyplace as we announce a $100M raise led by @GoldmanSachs & our $1B valuation🦄.The $ will provide more talent, tech & consumer services to enhance our biz. #IFoundMyPLACE #PoweredByPLACE #RealEstate #Technology www.place.com/series-a
Messaging
Message for Recruits
Subject Line:
BIG News for PLACE: $100 Million Raise & $1 Billion Valuation
Hi (first name),
I have big news to share! As you might know, (insert team name) with (insert brokerage name) has a partnership with PLACE, the real estate industry’s only all-in-one technology and business services platform that works with top producers.
Today, PLACE is announcing a $100 million fundraise led by Goldman Sachs Asset Management and supported by 3L and our $1 billion valuation.
The newly raised capital will be spent to:
- Deepen the business services provided to us
- Enhance the end to end technology platform we use daily that eliminates 75% of agents’ daily tasks
- Accelerate PLACE’s ability to simplify the homeownership process by powering an unparalleled consumer experience and savings
- Provide our agents the opportunity to own shares in PLACE to diversify their opportunities to build wealth
I initially partnered with PLACE because of the unique benefits offered to my agents:
- Company subsidized health insurance
- A Leverage Model that empowers them to grow a team within our team
- An Opportunity Model that provides income opportunities, such as revenue share, beyond real estate
Today’s announcement further solidifies my enthusiasm for being part of a platform that provides the industry’s best for my people.
I know you like to stay up-to-date on industry news and trends. Let’s schedule time to connect in person. I would love to catch up on your business and share more.
(Operator Name)
Message for Clients
Subject Line:
$100 Million in Funding to Deepen Our Service to You
Hi (insert first name),
As you might know, (insert team name) with (insert brokerage) has a partnership with PLACE, the real estate industry’s only all-in-one technology and business services platform.
I have big news to share! Today, our company PLACE just raised $100 million led by Goldman Sachs Asset Management at a $1 billion valuation.
This funding will be used to deepen our service to YOU by accelerating our ability to simplify the homeownership process, power an unparalleled experience, and save you money.
Our team which is powered by the PLACE platform will continue (more quickly) to build technology that makes it easier to buy, maintain and sell your home.
In addition, our agents will be more supported than ever — with training, technology and tools — so that they can exceed your expectations when working with the (insert team name).
Thank you for being part of our milestone and for helping us fulfill our mission of delivering the dream of homeownership! Your loyalty helped make this possible.
We look forward to partnering with you on your next real estate experience and always appreciate your referrals!
(insert agent or operator name)
Social Media
Post & Story Graphics
funding
FAQs
When was PLACE founded?
2019
What does PLACE do?
We provide a technology platform that provides top agents every tool and service they need to run their business all in one place. Our goal is to simplify the homeownership process for both agents and consumers.
We do this in two ways:
- Helping real estate professionals and their staff eliminate up to 75% of their daily tasks so that they have more time to help buyers buy and sellers sell.
- Helping consumers save time and money while buying and selling real estate with the use of our proprietary technology and home services such as mortgage.
Why are we different or better than competitors in this space?
PLACE is the ONLY business services and technology platform available in the industry. PLACE is not a brokerage, we are a brokerage agnostic platform that partners with top agents regardless of the brokerage brand they choose to affiliate with.
What are our growth metrics?
PLACE was profitable the first year in business. In 2020, PLACE top line revenue exceeded $85 million with more than $11 million in profit. In 2021, PLACE will double and exceed $150 million in top line revenue.
How many employees do we have?
We currently have approximately 300 full time employees working remote and in our physical locations located in Bellingham, WA; Salt Lake City, UT; Portland, OR; Edmonton, AB; and Austin, TX. We expect to grow to 700 to 1000 in 2022. This is in comparison to approximately 200 employees at the end of 2020
What will we do with the new capital?
We have three primary uses of our capital:
- We plan to double the size of our organization to support the rapid growth and provide more value to our current customers.
- We will expand our current technology platform to better support agents and consumers to reduce the friction of buying, selling, and owning real estate.
- The remaining capital will be used to expand our consumer service offerings including mortgage, title, insurance, and home repairs.
What does this mean for our operators, agents and consumers?
We will be able to expand our services and hire more talent to enhance our end-to-end technology platform and deepen the impact of our business services. This enables us to deliver our ongoing commitment to helping agents become more productive and efficient by eliminating 75% of the tasks agents and staff have to complete everyday.
For home buyers and sellers, we will be able to accelerate our ability to simplify the homeownership process and power an unparalleled consumer experience and savings.
How has PLACE been funded before this raise?
Our business to date has been self funded and bootstrapped by the founders which forced us to responsibly use capital and to always run a profitable business model.
Our current valuation is $1 Billion. Prior to this, we had not raised any capital and had no official value established.
How many customers/users do you have?
We currently work with top producers in over 100 top markets in the US and Canada. We have more than 10,000 top agents using our technology platform from all real estate brands and brokerages.
What new markets are you considering?
Our services are available in all markets across the US and Canada. This is one of the benefits of truly being a technology platform and not a brokerage.
Why Goldman Sachs Asset Management was attracted to PLACE: (From Goldman Sachs Perspective)
First, we like that PLACE built its software first, specifically for top agent teams, and has seen strong commercial traction selling it standalone under the Brivity brand. At the same time, top agents need more than just software; they need a full-stack offering that fully abstracts away the complexity of running a business. It is rare that we can invest in a full-stack business with clear validation of the technology on a standalone basis. Second, we view PLACE’s ability to serve agents across any brokerage affiliation as differentiated – you don’t need to leave your current brokerage to join PLACE. Finally, the performance of PLACE’s platform operators, many of whom we spoke with in our diligence, was extremely encouraging – they have been attaining industry-leading scale and profitability.
funding
Press
