# Sundae

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sundae

- Industry: Commercial Property
- Headquarters: San Francisco, US
- Website: www.sundae.com
- Total disclosed funding: $124M
- Latest round: Series C (Jul 8, 2021)
- Investors on record: 13

## About

Sundae, Inc., based in the US, operates a specialized platform that simplifies the sale of residential properties in as-is condition, catering to homeowners who wish to avoid traditional real estate complexities.Sundae, Inc. is dedicated to facilitating the sale of residential properties directly from homeowners. Founded in 2018 and headquartered in San Francisco, California, the company has completed 4 deals with its most recent funding round occurring on July 8, 2021. The company raised USD 70.90 mn in a Series C round led by General Global Capital and Fifth Wall Ventures, with involvement from numerous other investors. Andrew Swain, Josh Stech, and Kent Beidel are the founders with Josh Stech serving as the CEO.Sundae offers a platform designed to help homeowners sell residential properties in as-is condition, particularly targeting those who want to avoid the traditional real estate market's complexities, such as repairs and showings. The core service involves making competitive cash offers for homes in various conditions, including those needing repairs or facing financial challenges. Sundae's services allow for quick transactions, often closing within 10 days, without any fees, and are especially aimed at homeowners in California and Texas, covering urban and suburban areas such as the Inland Empire, Los Angeles, and Sacramento. Additionally, Sundae provides resources for real estate agents and property investors, broadening its market appeal.Sundae generates revenue primarily from purchasing residential properties directly from homeowners, who receive competitive cash offers based on their homes' condition and market value. This straightforward transaction structure allows homeowners to bypass traditional selling methods while receiving quick cash offers without fees. The company likely earns revenue through fees or margins from investors who buy the properties, as well as partnerships with real estate agents facilitating the sales, thus creating a steady flow of property transactions focusing on as-is sales.Following the successful Series C funding round on July 8, 2021, where Sundae, Inc. raised USD 70.90 mn, the company plans to use these funds to expand into new markets and enhance its online marketplace platform and digital tools for buyers and sellers. The aim is to build brand awareness and reach a broader audience of homeowners and property investors across the country.

## Funding rounds

- Series C, Jul 8, 2021, $71M — Founders Fund, Wellington Management, QED Investors, Susa Ventures, Prudence, Gaingels, Fifth Wall Ventures, Oberndorf Ventures, First American Financial Corporation, Palm Tree Crew Investments, General Global Capital, Crossover
- Series B, Nov 16, 2020, $33M — Founders Fund, Navitas Capital, QED Investors, Susa Ventures, Prudence, General Global Capital
- Series A, Jun 30, 2020, $17M — Founders Fund, QED Investors, Susa Ventures
- Seed, Jan 3, 2019, $3.2M — Founders Fund, Susa Ventures

## Investors

- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed, Series A, Series B, Series C
- Susa Ventures (https://capitalatlas.ai/funds/susa-ventures) — Seed, Series A, Series B, Series C
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A, Series B, Series C
- Navitas Capital — Series B
- Prudence (https://capitalatlas.ai/funds/prudence) — Series B, Series C
- General Global Capital (https://capitalatlas.ai/funds/general-global-capital) — Series B, Series C
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series C
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series C
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series C
- Oberndorf Ventures (https://capitalatlas.ai/funds/oberndorf-ventures) — Series C
- First American Financial Corporation — Series C
- Palm Tree Crew Investments (https://capitalatlas.ai/funds/palm-tree-crew-investments) — Series C
- Crossover (https://capitalatlas.ai/funds/crossover) — Series C