Acre Homes Secures Over $10 Million in Funding to Transform Homebuying Experience

In a bold move that demonstrates the increasing demand for innovative real estate solutions, Acre Homes, a tech-enabled firm based in Durham, North Carolina, has successfully closed a substantial seed funding round led by Anthemis. This round has propelled the total venture capital raised by the company to an impressive over $10 million. Notable participants in this funding round included Sovereign's Capital, Home Technology Ventures, and Duke Capital Partners, among others.

The robust support from venture capitalists indicates a strong belief in Acre Homes' vision to provide a consumer-centric approach to homeownership amid growing frustrations with traditional homebuying processes. Sean Park, the Founder and CIO of Anthemis, expressed his enthusiasm for Acre's potential, stating, "We believe Acre is well-positioned to deliver a sorely needed, consumer-centric solution in real estate." His remarks underscore the complex challenges buyers face today and acknowledge Acre’s innovative strategies to tackle them.

Mike Schneider, the CEO and Co-founder of Acre Homes, reflected on this funding achievement, particularly within the context of challenging fundraising conditions. "This success is a reflection of the quality of our team and encouraging market traction," Schneider noted. "We founded this company because buying a home no longer makes sense for a growing number of Americans."

The Acre Approach

Acre Homes aims to redefine the homebuying experience by simplifying the process and turning it into a more financially sound decision for many. Established by seasoned entrepreneurs from various backgrounds, including former contributions at NASA and Collective Health, Acre has quickly expanded its services. Since its inception in 2021, it has launched successfully in the greater Raleigh and Atlanta metro regions, catering to a diverse client base that ranges from young families to mobile professionals.

Acre's innovative model allows customers to offset costs significantly compared to traditional mortgage options. On average, customers using Acre have saved about $9,000 in purchase costs and are projected to gain an additional $50,000 from ongoing savings and home appreciation over the next three years. This impressive financial outcome highlights the market gap Acre is addressing, especially for households who feel disenfranchised by the traditional system.

Looking Ahead

The fresh influx of capital will be applied towards accelerating the company's growth in existing markets and launching into new ones, further expanding its reach. With Atlanta now on their list of operational markets, Acre looks poised to address the convoluted and often prohibitive processes associated with homeownership.

In summation, Acre Homes exemplifies a forward-thinking approach to real estate that prioritizes the needs and financial health of the consumer. As the company continues to innovate and expand, it undoubtedly positions itself as a notable player in the real estate tech space, promising to reshape the landscape of homebuying for many Americans in the coming years.

For more information about Acre Homes and its approach to homeownership, please visit www.acrehomes.com.