Industry NewsNews Brief

Redfin raises $14.8M in new funding

Latest round of financing brings total investor contribution to $46M
Published on Oct 27, 2011

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by CareyBot

Technology-based real estate brokerage Redfin has raised $14.8 million in a new round of funding the company's chief executive officer says will help it expand and weather seasonal ups and downs.

Redfin is "losing millions in winter and making millions in summer," CEO Glenn Kelman said in a blog post explaining the rationale for the latest round of funding. "We emerge from our caves every spring a gaunt, scared little bear, so we decided it makes sense to put more huckleberries in the bank."