Homeward, an Austin-based PropTech company focused on making home buying and selling easier, has raised $120 million in Series D funding as it expands its financing products and technology platform.

The round was led by Saluda Grade, an alternative investment firm specializing in asset-backed credit. Continental General Insurance Co., Citi Ventures, Magnetar Capital, Norwest, LiveOak Ventures, Adams Street Partners, Javelin Venture Partners, Harmony Partners, Era Ventures and First American also participated.

The latest investment brings Homeward's total equity funding to $360 million since the company was founded in 2018. Homeward did not disclose its latest valuation, saying it was similar to the valuation associated with its $136 million Series C round in 2021, when the company was reported to be worth just over $800 million.

Alongside the equity financing, Homeward has secured a $330 million asset-backed debt facility to support additional home transactions. The equity capital will be used to expand its financing products and invest in its technology platform.

Helping Homeowners Navigate the Timing of a Move

Homeward works through real estate agents to help homeowners overcome one of the biggest challenges in the housing market: coordinating the purchase of a new home with the sale of an existing one.

Its Buy Before You Sell program provides short-term financing that allows homeowners to purchase their next property before selling their current home. The program also provides a guaranteed backup offer for the existing property.

For homeowners who want to sell more quickly, Homeward offers Sell Before You List.

Under that program, Homeward purchases the property for cash and can close the transaction within weeks. It then makes improvements to the property before putting it back on the open market. After the property is sold, Homeward returns the profit to the original homeowner while charging a program fee.

Founder and CEO Tim Heyl said the company saw an opportunity to help homeowners sell quickly without giving up as much of their home equity as they might when selling directly to an investor.

Expanding Its Cash-Offer Business

The latest financing has helped Homeward expand its cash-offer program across the 48 contiguous U.S. states.

The company also plans to make its Buy Before You Sell program available nationwide by the end of the year.

The geographic expansion follows a strategic shift that has played an important role in Homeward's growth.

According to Heyl, the company has more than quadrupled its revenue since 2021 despite U.S. home sales falling by roughly 30% over that period. He attributed much of that growth to the company's pivot toward serving homeowners who still need to transact even when broader housing activity slows.

Homeward says it has now partnered with more than 25,000 real estate agents and facilitated more than $4 billion in real estate transactions.

A Pivot During a Difficult Housing Market

Homeward's business originally focused almost exclusively on helping homeowners buy their next home before selling their current one.

From 2019 through 2022, the model benefited from a housing market in which homes often attracted multiple offers and moved quickly. But rapidly rising interest rates changed the equation.

Higher borrowing and moving costs caused many homeowners to stay in their existing properties rather than move.

That created a problem for Homeward's original business model because fewer people were simultaneously buying and selling homes.

The company responded by expanding its offering to homeowners who simply wanted to sell.

In early 2023, Homeward launched Sell Before You List, targeting sellers who wanted to unlock their home equity without waiting for a traditional listing and sale process.

Homeward also redesigned its Buy Before You Sell product by reducing its cost and simplifying the process for a housing market where homes no longer routinely sold within a weekend.

As housing activity has started to recover, the company's original offering has also contributed to recent growth.

Building a Network Through Real Estate Agents

Homeward's distribution strategy is centered on real estate agents rather than direct-to-consumer advertising.

The company has built relationships with more than 25,000 agents and aims to develop ongoing relationships with agents, teams and brokerages that can repeatedly introduce clients to its products.

Some agents use Homeward's products under their own brands through white-label arrangements.

Others use the platform when a client's existing home or access to its equity is preventing them from completing another purchase.

Heyl describes the role as helping to "unblock" transactions.

This approach allows Homeward to grow through existing real estate relationships rather than spending heavily on consumer advertising.

The strategy also attracted Saluda Grade, which is backing Homeward for the first time.

John Stepp, who runs Saluda Grade's growth equity fund, said Homeward's understanding of the problems facing buyers, sellers and agents stood out, along with the company's financial performance and growth.

AI Enters Homeward's Underwriting Process

Homeward is also using artificial intelligence to streamline parts of its operations.

The company is applying AI to reduce manual work involved in processing transactions and underwriting properties.

Large language models are used to extract information from documents and help underwriters evaluate property videos, photographs and inspection reports.

The system can identify relevant details about areas such as roofs, heating and cooling systems and the overall condition of a property.

Heyl said AI has been particularly useful for streamlining operations and underwriting.

The technology gives Homeward another way to improve the economics and speed of its financing model as it expands across more markets.

Multiple Revenue Streams

Homeward generates revenue through several parts of its platform.

Its Buy Before You Sell program carries a 1% program fee along with a monthly interest cost.

Sell Before You List uses a single program fee rather than a monthly charge, although the company did not disclose the specific fee.

Homeward also operates in-house mortgage and title businesses.

According to Heyl, providing more services within the same transaction can simplify the experience for customers while allowing the company to reduce the program fee it needs to charge.

A Larger Opportunity in a Slower Housing Market

Homeward's latest funding comes as PropTech investment continues to recover.

Global real estate-related startups have attracted approximately $12.7 billion in seed through growth-stage investment during 2026, according to Crunchbase data cited in the source. That puts the sector on pace to exceed the $12.3 billion raised in 2025, although investment remains well below the sector's peak years.

Homeward's strategy reflects a broader opportunity created by housing-market friction.

Even when homeowners want to move, selling and buying a property simultaneously can create financing, timing and liquidity challenges.

By combining financing, cash offers, mortgage and title services, Homeward is attempting to make those transactions more flexible.

The company has already facilitated more than $4 billion in transactions and built a network of more than 25,000 real estate agents.

With $120 million in fresh equity capital and a $330 million asset-backed debt facility, Homeward now has additional resources to expand its products and reach more homeowners.

Its biggest test will be whether the company can continue growing as the housing market changes while maintaining the economics of its financing-heavy model.

For now, Homeward is betting that the future of residential real estate will not simply be about helping people find homes. It will also be about solving the financing and timing problems that prevent homeowners from completing the move in the first place.