![]() ![]() Divvy makes money off of “market rate rent,” and claims to charge no hidden fees or impose “extra costs.”ĭivvy plans to use the new capital to (of course) do more hiring, increase investment in technology and purchase more homes. It’s also grown its headcount by five times to 40 compared to the same time last year. The company saw its revenue grow 10 times in August year-over-year, according to CEO and co-founder Adena Hefets. In a statement, Alex Rampell, a general partner at Andreessen Horowitz, said a16z was “confident” that Divvy would “continue causing meaningful disruption in the real estate space, given its unique business model and real impact on wealth creation in America.” New investors GIC, a Singaporean sovereign wealth fund, and homebuilder Lennar (via its venture arm) joined existing investors Andreessen Horowitz (a16z), Caffeinated Capital, and Affirm CEO Max Levchin in putting money into the latest round. ![]() It started off as a $20M debt facility raised along with the company’s Series A in 2018, but increased over the last year as Divvy has “proven” its performance, according to the company. The San Francisco-based company also had previously raised more than $120 million in a debt facility from Cross River Bank + Atalaya. ![]() Divvy also raised $10 million in an a16z-led Series A last October. The startup’s combined equity and debt raised since its inception in 2017 is now “nearing $200 million,” it said. Divvy claims to be working to “create a world where every person can own their forever home ” or, essentially, it wants to make homeownership more accessible. Today, Divvy Homes announced a $43M Series B round to help in its mission to help more Americans “move from renters to owners.”ĭivvy differentiates itself from the slew of real estate tech companies claiming to be digitizing “the archaic, data-heavy processes buyers encounter along the way” by taking things “further.” The company works with renters who want to become homeowners by buying the home they want and renting it back to them for three years “while the savings needed to own it themselves.”Įvery company has a mission. The says that it doesn't charge any additional money outside of the patients' co-pay, and that it accepts all the major insurance plans.Another day, another real estate tech startup raises money. "I can only speculate that these pharmacies have very strong patient loyalty," said Vinod Melvani, a pharmaceutical executive and consultant.ĭivvyDose gives ways for patients to sign up online and by phone, then sorts their medicines into packets with clearly-labeled dates and times, and sends them to patients along with a full medication list. Health plans like UnitedHealth could benefit by providing additional benefits to a segment of users that rely on getting their medicines delivered in neat, easy-to-use packets. For retailers, like Amazon and Walmart, it's a way to broaden their footprint in the $300 billion pharmacy market. ![]() One reason for the buy-ups is to tap into the base of customers that use these services, many of whom are juggling multiple medications. Amazon acquired PillPack, a competitor to DivvyDose in 2018, and Walmart recently scooped up medication management technology from CareZone. Many of the largest retailers and health plans are snapping up start-ups in the online pharmacy space, which aim to make it easier for patients to take their medicines. Talks between the two companies were previously reported by Bloomberg. Personal Loans for 670 Credit Score or LowerĪ spokesperson for UnitedHealth declined to comment. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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