Sundae: A Real Estate Platform Operating in the Inland Empire Lets you Sell Dated Homes

By: Sharjeel Sohaib

• 

Oct 8, 2021

 • 

Sundae is a marketplace for homeowners to list and sell dated or damaged homes. The company connects homeowners looking to sell their house as-is to the largest network of investors.

Since January 2019 Sundae has been operating in four areas— San Diego, Los Angeles, the Inland Empire, and Sacramento.

TechCrunch reported that the startup has hit an annualized revenue run rate of over $400 million in gross merchandise value (the total value of home sales transacted on its platform). 

Series B of $36 million

QED Investors; Founders Fund, Susa Ventures, Navitas Capital, and Prudence Holdings all got together to fund the Series B round of Sundae. It amounted to $36 million.

The previous round A was also funded by QED Investors when the firm put a $16.55 million Series A in Sundae.

Homes that need love segment

Essentially Sundae turns distressed homes into ready-to-inhabit homes for a quicker turnaround. Home owners have to go through a lot of hoops if they have sell their home quickly. The San Bernardino Sun recently reported that the Inland Empire saw an unprecedented year as home prices have seen improvement in margins.

The home buying boom in the Inland Empire makes it easy for platforms like Sundae to expand operations in the Inland Empire. The region is already a major box box industrial market of America.

Housing Booms Amid Economic Growth of the Inland Empire

Startempire Wire reported that “over the last few years, business growth in the Inland Empire has been recognizable. The Inland Empire Business Activity Index released by UC Riverside School of Business Center for Economic Forecasting and Development has delivered some exciting statistics for business owners in the region”. 

There was a cumulative economic growth of 11.1% from 2011 to 2016 in the Inland Empire region. We did mention it earlier that infrastructure investment and demographics are two key factors pointing towards true north of a region’s suitability for startup ecosystem. And, that in turn helps job creation.

“According to the Press Enterprise, the Inland Empire region added more jobs at the end of 2019 compared to Los Angeles, Orange, and San Bernardino counties”.

Nonetheless, a major part of this job creation has to do with warehouse jobs as the region is a logistics and distribution hub. Some of the key investments recently were:

With this being said, Startempire Wire will reach out to Sundae’s founders and management to learn what’s the company’s footprint in the Inland Empire and how it sees the distressed home sales in the region.

Our goal at Startempire Wire is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire. Don’t forget to subscribe to our YouTube channel, and like/follow us on FacebookTwitter, and Instagram.  

Author

  • Avatar Of Sharjeel

    Sharjeel joined Startempire Wire as emerging technologies editor. Earlier, he worked at Silicon Canals, a leading English language technology media source for the Benelux and wider Europe. He covered the European technology and startup ecosystem digging into latest funding rounds of startups.

0 Comments

Submit a Comment

Connecting you with the best startups, people & events in the Inland Empire.

Related Articles

The Forbes Magazine Features University of California, Riverside  . . .

The Forbes Magazine Features University of California, Riverside . . .

According to Forbes magazine's list of top universities, UC Riverside is the No. 33rd public institution. Due to the great culture and top-notch graduate and undergraduate programs, many UC campuses and 17 other universities, including UCR, made it to the top 50. Key...

Weekly Wire RoundUp: Hiring Spree of UPS in SoCal, Amazon Antitru . . .

Weekly Wire RoundUp: Hiring Spree of UPS in SoCal, Amazon Antitru . . .

https://youtu.be/MkaYiVQIPjY This is our latest Weekly Wire RoundUp where we share a round-up of the news covered in the last week. World’s Largest Package Delivery Company UPS to Hire 12K Workers from SoCal Counties: To meet the anticipated surge in package traffic,...

Stay Up On Startempire News

Access Premium Content

Startempire Wire premium content access is free during the beta period of our  website.  Join during beta and get a grandfathered discount when we launch.

$5 for first month then $15 per month

Get Every Update

Would you like to receive Startempire Wire updates in your inbox? Subscribe below!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

Follow Startempire Wire on other social media channels.

"*" indicates required fields

 
This field is for validation purposes and should be left unchanged.

My cart
Your cart is empty.

Looks like you haven't made a choice yet.