Mynd Acquisition, Valuation, Funding & Investors
Mynd was acquired by Roofstock in May 2024.
About Mynd
Mynd is a San Francisco-headquartered property management company specializing in single-family rentals across 30 U.S. markets. The platform handles tenant placement, rent collection, maintenance, and 1099 filings using proprietary software for owners. Managing 15,000 properties, it guarantees rent payments and eviction protection. Investors access portfolio analytics and cash-out refinancing through integrated tools.
Founded
2016
HQ
San Francisco, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$267M (Sep 2021)
Valuation
$807M (Sep 2021)
Mynd Acquisition
Mynd was acquired by Roofstock for an undisclosed price on 16 May 2024.
Before the acquisition Mynd had raised $205M across 8 funding rounds.
Mynd, founded in 2016 and headquartered in Oakland, California, is a tech-driven real estate firm that enables investors to remotely procure, finance, insure, lease, manage, and sell single-family rental (SFR) properties across more than 25 U.S. markets, backed by venture capitalists including Lightspeed, Canaan, Jackson Square, and QED; it previously secured a $5 billion mandate from Invesco Real Estate in 2021 to acquire about 20,000 SFR homes over three years. Roofstock, founded in 2015 and also Oakland-based, operates as a leading real estate services and investment platform in the $5 trillion SFR sector, having facilitated over $6 billion in transactions and backed by investors such as Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, and SoftBank Vision Fund 2; it was valued at nearly $2 billion in 2022. The two former rivals announced their merger on May 16, 2024, to create a comprehensive end-to-end platform combining Roofstock's investment marketplace with Mynd's property management, providing investors robust technology, deep data insights, and SFR-specific management to ensure properties are leased, maintained, and yield strong returns. Under the deal terms, Mynd merges into the Roofstock corporate entity, with Mynd's property management operations continuing under the Mynd brand; Roofstock co-founder and CEO Gary Beasley remains CEO, while Mynd co-founder and CEO Doug Brien assumes the role of Roofstock President. BGL acted as exclusive financial advisor to Mynd, and Fenwick & West represented Roofstock. The merger aligns with strategic leaders' shared history at Waypoint Homes, now part of Invitation Homes, amid a SFR market poised for growth akin to multifamily, despite housing market challenges and scrutiny on institutional ownership. Roofstock authorized a Series MM down round at $9.12 per share on May 31, 2024, a 69% discount from its prior Series E price of $29.49, coinciding with the merger announcement on June 3 in some reports, reflecting adjusted valuation dynamics in the competitive SFR investment landscape.
| Acquirer | Date | Type |
|---|---|---|
| 16 May 2024 | Strategic M&A |
Mynd Valuation
Mynd is currently valued at $807M, based on its undisclosed-stage round in September 2021.
The $57M round was led by QED Investors.
Mynd's valuation has grown 2.7x from $300M at its undisclosed-stage round in June 2021 to $807M in September 2021, across 2 priced rounds.
Mynd valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Undisclosed stage | $807M | 3.0x |
| Jun 2021 | Undisclosed stage | $300M | - |
Mynd Revenue
Mynd's latest recorded revenue is $267M, as of its undisclosed-stage round in September 2021. At a $807M valuation, that implies a 3.0x revenue multiple.
Mynd revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $267M | $807M | 3.0x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Mynd Funding History
Mynd has raised a total of $205M across 8 funding rounds.
Mynd's first fundraising round was a $6M Series A in October 2016. The most recent completed round was a $30M undisclosed-stage round in July 2023.
Mynd funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2023 | Undisclosed stage | Invesco (lead); R136 Ventures; Invus Opportunities | $30M | - | Mynd is a platform that assists single-family rental (SFR) investors with finding, financing, and managing properties across the U.S., offering full-service property management, institutional partnerships for buying and investment management, and tools for remote operations. The company closed a $30 million financing round on July 19-20, 2023, led by Invesco Real Estate ($20 million), with the remainder from existing investors including Invus Opportunities and R136 Ventures, marking Invesco's second major investment after a $30 million contribution in a $40 million raise in June 2021. Funds are allocated to general operations, product expansion, training, development, and growing institutional partnerships in the emerging SFR asset class. Mynd has raised over $204.9 million across multiple rounds, positioning it to manage over $3.5 billion in assets under management as of mid-2023. The 2023 round underscores investor confidence amid proptech challenges like failed SPACs and down rounds, with Invesco's Bert Crouch highlighting SFRs as a tremendous opportunity. Post-round, Mynd continued operations until a merger with Roofstock on May 16, 2024. The company has acquired entities like HomeUnion and serves property owners with 5-50 units, competing in the proptech space for SFR management and institutional investment solutions. |
| Sep 2021 | Undisclosed stage | QED Investors (lead) | $57M | $807M | Mynd is an Oakland, California-based company that enables individuals and institutional investors to buy and manage single-family rental properties through its technology platform. The company provides a full-service property management solution with a proprietary data set and automated workflow capabilities for underwriting, mobile applications, and communications. In September 2021, Mynd raised $57.3 million in Series funding led by QED Investors, valuing the company at $807 million post-money. This round brought total funding raised since inception in 2016 to $174.9 million. The capital was designated for upgrades to the digital platform, enhancement of the automated workflow engine and underwriting systems, mobile application development, and geographic expansion. At the time of the round, Mynd managed homes through both retail and institutional channels. The company reported roughly 4,000 retail investors using the platform and had added 1,846 homes in the prior year, with expectations to add approximately 8,500 homes in 2021. Invesco Real Estate was Mynd's largest institutional client and had committed $5 billion to purchase and rent 20,000 single-family homes through Mynd over three years. The company employed 568 people, up from 366 a year prior, demonstrating significant headcount growth. |
| Jun 2021 | Undisclosed stage | Invesco (lead); DivcoWest | $40M | $300M | Mynd is a tech-enabled property management platform founded in 2016 that helps single-family rental (SFR) investors search for, purchase, renovate, and manage properties remotely, operating in 25 markets with over 7,000 homes under management as of June 2021. The company offers an all-in-one technology platform including proprietary systems like OTTO for real estate investing and management, complemented by local operations for resident services and investor transparency. In June 2021, Mynd raised a $40 million financing round led by Invesco Real Estate, with participation from DivcoWest, Thomvest, Common Fund, Squarepoint, Assurant, and Jackson Square Ventures, valuing the company at approximately $300 million post-money. Invesco provided about $30 million of the round and separately committed up to $5 billion (including debt) for Mynd to acquire around 20,000 SFR homes over three years, positioning Mynd as one of the largest buyers and managers in the U.S. The funding supports platform development, acquisitions, renovations, hiring (adding 50 employees), and expansion into new markets like the Midwest and Southeast. At the time, Mynd managed properties for roughly 4,000 retail investors and institutions, acquiring about 50 homes monthly with plans to scale to 1,000 by 2022, driven by institutional capital flooding the SFR sector amid post-COVID migration trends. The company had 568 employees by September 2021, up significantly year-over-year, and aimed to enhance underwriting, mobile apps, and omnichannel communications. A later September 2021 round raised $57.3 million from QED Investors at an $807 million valuation, building on the Invesco partnership. Mynd competed in a consolidating SFR market with players like Roofstock (valued near $2 billion in 2022), Invitation Homes, and others backed by institutions such as JPMorgan, Brookfield, and Centerbridge. Discussions of a merger with Roofstock were reported later, amid stagnating home sales. |
| Jun 2020 | Series C | Wells Fargo Securities (lead); Jackson Square Ventures; Canaan Partners; Lightspeed Venture Partners; DivcoWest | $42M | - | Mynd is a property management platform that enables investors to find, finance, purchase, and manage single-family rental properties remotely through an in-house digital platform and mobile apps, operating in 25 cities. The company was founded in 2016 by Doug Brien and Colin Wiel, former co-founders of Waypoint Homes, with a focus on increasing returns on investment and transparency for real estate investors. In June 2020, Mynd raised $42 million in its Series C round led by Wells Fargo Securities, with participation from Canaan Partners, Jackson Square Ventures, and others, to accelerate growth and enhance technological capabilities. Prior rounds included a $5.5 million Series A in October 2016 led by Canaan Partners and a $20 million Series B in May 2018 from Canaan and Jackson Square Ventures. Post-2020, Mynd continued raising capital, including a $40 million round in June 2021 led by Invesco Real Estate and a $57.3 million Series D in September 2021 from QED Investors at an $807 million valuation, bringing total funding to $174.9 million at that time. Later developments included additional funding totaling over $204.9 million across nine rounds and a merger in May 2024. The company grew its managed homes portfolio, adding 1,846 homes in 2020 and projecting 8,500 in 2021 to nearly double its portfolio, with about 4,000 retail investors and Invesco as its largest institutional client committing $5 billion for 20,000 homes. Mynd employed 568 people by September 2021, up from 366 the prior year, and planned to invest in its data-powered platform, underwriting, mobile apps, and market expansion. |
| May 2018 | Series B | Lightspeed Venture Partners (lead); Jackson Square Ventures; Canaan Partners | $20M | - | Mynd is a Californian property management platform that provides property managers and owners with real-time data and transparency to improve property operations and payment collection. The company operated in the FinTech property management space, competing with platforms offering automation and data-driven insights. Lightspeed Venture Partners made a lead contribution to Mynd’s $20 million Series B round, aligning with the firm's active FinTech investments in 2018. Other investors in the round included Canaan Partners and Jackson Square Ventures. Lightspeed highlighted the investment amid closing $1.8 billion in funds for seed, Series A, Series B, and early growth follow-ons in enterprise and consumer sectors. |
| Oct 2017 | Series A | Lightspeed Venture Partners (lead); Jackson Square Ventures; Canaan Partners; Jaws Ventures | $5M | - | Mynd is an Oakland, California-based property management technology platform founded in 2016 that provides full-service property management for residential buildings with 50 units or smaller. In October 2017, Mynd closed a $5 million Series B funding round led by Lightspeed Venture Partners, with participation from returning investors Canaan Partners and Jackson Square Ventures, as well as Barry Sternlicht, chairman and CEO of Starwood Capital Group. This round brought Mynd's total venture backing to $15.6 million. The company planned to use the capital to expand into new markets while maintaining focus on service quality for property owners and residents. Lightspeed partner Will Kohler highlighted Mynd's technology platform and experienced operating team as addressing inefficiencies in the residential rental market. |
| Mar 2017 | Series A | Jackson Square Ventures (lead); Canaan Partners; Lightspeed Venture Partners | $5M | - | Mynd is a tech-enabled property management company providing full-service management for residential buildings of 50 units and smaller, using real-time data management and a mobile app to improve efficiency for property owners and residents. Founded in 2016 and headquartered in Oakland, California, the company was backed by Canaan Partners, Jackson Square Ventures, and Lightspeed Venture Partners. |
| Oct 2016 | Series A | Canaan Partners (lead); Thirdstream Partners; TriplePoint Ventures | $6M | - | Mynd, based in Oakland, CA, provides full-service property management for residential buildings of 50 units and smaller using a technology-based approach that combines tech and local experts to increase property owner profits by 5-10 percent on average. The company was founded in 2016 by Doug Brien and Colin Wiel, former co-founders of Waypoint Homes, targeting real estate investors seeking scalable rental property management with transparency and efficiency. On October 25, 2016, Mynd announced a $5.5 million Series A funding round led by Canaan Partners, with participation from Thirdstream Partners and TriplePoint Ventures, to expand services to investors with rental units in the San Francisco Bay Area. The property management industry, valued at $55 billion, was highlighted as overdue for innovation by Canaan venture partner Rich Boyle. |
Who has invested in Mynd?
12 investors have backed Mynd across its funding rounds, including Canaan Partners, Lightspeed Venture Partners, Jackson Square Ventures, Invesco, DivcoWest and QED Investors.
Lead investors include Invesco, QED Investors, Wells Fargo Securities, Lightspeed Venture Partners, Jackson Square Ventures and 1 other investor.
Mynd Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 5 | Lead | Oct 2016 | |
| San Francisco, CA | 4 | Lead | Mar 2017 | |
| San Francisco, CA | 4 | Lead | Mar 2017 | |
| Atlanta, GA | 2 | Lead | Jun 2021 | |
| United States | 2 | Participant | Jun 2020 | |
| San Francisco, CA | 1 | Participant | Oct 2016 | |
 George Town | 1 | Participant | Jul 2023 | |
| Miami, FL | 1 | Participant | Oct 2017 | |
| San Francisco, CA | 1 | Participant | Oct 2016 | |
| Alexandria, VA | 1 | Lead | Sep 2021 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Mynd
Mynd has acquired 4 companies to date.
Last acquisition by Mynd was on July 24th 2019. Mynd acquired HomeUnion for undisclosed valuation.
Latest Acquisitions by Mynd
| Description | - | RentVest is a Mesa-based property management company operating in Arizona and nationwide through Mynd acquisition. The firm manages single-family rentals with services including tenant placement, maintenance via Angi partnerships, and 24/7 emergency response for portfolios in Phoenix and Tucson. | Raymond Management is a Sacramento-based property management firm now integrated into Mynd Group. The company oversees multifamily and single-family rentals, providing leasing, maintenance, tenant screening, and financial reporting for investors. Managing over 10,000 units in California, it utilizes proptech for 24/7 maintenance and rent collection. | Jevons Property Management is a Calgary-headquartered firm overseeing 5,000 residential units including apartment buildings, townhomes, and single-family rentals in Alberta. Providing full leasing, maintenance, and tenant screening services since 2005, it utilizes Yardi Voyager software for portfolio management. The company handles properties from downtown high-rises to suburban duplexes across Calgary and Edmonton. |
| HQ Country | | | | |
| HQ City | - | Phoenix, AZ | Sacramento, CA | Seattle, WA |
| Deal Date | 24 Jul 2019 | 15 May 2019 | 29 Mar 2019 | 29 Jan 2019 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Mynd Competitors
Mynd competitors include listed companies like PEXA Group and Real Brokerage, and private ones like Spaceti, Flyhomes, Guesty and Kujiale.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Amsterdam | Private | - | - | $104M | - | |
| Seattle, WA | Private | - | - | $800M | - | |
 Australia | Publicly listed | $285M | $100M | $861M | 3.4x | |
| Los Angeles, CA | Private | $100M | - | $900M | 9.0x | |
 Hangzhou | Private | $41M | - | $1B | 24.4x | |
| United States | Publicly listed | $2B | ($6M) | $638M | 0.2x |
Mynd Public Comps
Mynd is no longer listed, but its public comps include PEXA Group, Dexterra Group, Real Brokerage, Vitec Software, Quess Corp, Altus Group, K-Bro Linen, Lassila & Tikanoja, Shoucheng Holdings and Eleco.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $285M | $100M | 3.4x | 3.4x | 9.8x | 9.3x | |||
| $746M | $78M | 1.1x | 1.0x | 10.5x | 8.5x | |||
| $2B | ($6M) | 0.3x | 0.2x | (87.2x) | 6.6x | |||
| $371M | $151M | 3.7x | 3.5x | 9.1x | 9.0x | |||
| $1.6B | $32M | 0.3x | 0.3x | 16.6x | 15.2x | |||
| $360M | $31M | 3.5x | 3.7x | 40.5x | 14.2x | |||
| $363M | $65M | 1.6x | 1.5x | 9.2x | 7.8x | |||
| $488M | $96M | 1.0x | 1.0x | 5.2x | 5.3x | |||
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Common questions about Mynd
| When was Mynd founded? | Mynd was founded in 2016. |
| Where is Mynd headquartered? | Mynd is headquartered in San Francisco, CA, United States. |
| Is Mynd publicly listed? | No, Mynd was acquired by Roofstock in May 2024. |
| Who acquired Mynd? | Mynd was acquired by Roofstock in May 2024. |
| What is Mynd's valuation? | Mynd was last valued at $807M in its undisclosed-stage round in September 2021. |
| How much funding has Mynd raised? | Mynd has raised $205M across 8 funding rounds. |
| What was Mynd's last funding round? | Mynd's last funding round was a $30M undisclosed-stage round in July 2023, led by Invesco. |
| Who are Mynd's investors? | Mynd's investors include Canaan Partners, Jackson Square Ventures, Lightspeed Venture Partners, Invesco, DivcoWest, Thirdstream Partners, R136 Ventures, Jaws Ventures, TriplePoint Ventures, QED Investors and 2 others. |
| What is Mynd's revenue? | Mynd's latest recorded revenue is $267M (September 2021). |
| What is Mynd's revenue multiple? | Mynd's latest valuation implies a 3.0x revenue multiple ($807M valuation on $267M of revenue). |
| Which companies are comparable to Mynd? | Companies comparable to Mynd include Spaceti, Flyhomes, PEXA Group, Guesty, Kujiale and Real Brokerage. |
| How many companies has Mynd acquired? | Mynd has acquired 4 companies, including HomeUnion, RentVest, Raymond Management, Now a Mynd Company and Jevons Property Management. |
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