Celebrating our Series A: Here’s Where We’re Heading

Today, we’re celebrating the closing of our Series A funding round.

It’s the culmination of over two years spent discovering what our members need to succeed, and building services, community, and technology to support them. 

Along the way, we’ve helped restore over 900 homes in 41 states with an average member profit of $82,000. It’s been humbling to look back on our rapid success, and it leaves us excited about the future.

As Backflip moves into this next stage of our growth, we thought now would be a good time to reaffirm our values, our goals, and why we’re passionate about what we’re building.

Backflip inspires and empowers the entrepreneurs reinvigorating America’s homes. When our entrepreneurs succeed, neighborhoods thrive.

Our members are the heroes of local communities.

They’re transforming America’s housing stock, much of which has aged out of its useful lifespan. The neighborhoods built in the mid-19th century that provided millions of Americans with an entry point to homeownership and the American Dream are now filled with homes desperately in need of being brought up to modern consumers’ standards.

About three in four U.S. homes, or 68 million, are more than three decades old, with a median age of 44. The prime time for remodeling is between 20 and 40 years old.

There is a group of entrepreneurs around the country serving this vast market. They are self-reliant and determined value creators. They are creating jobs, improving neighborhoods, and giving the next generation of homebuyers the chance to build equity in a home they’re proud of.

Our members’ work requires creativity, organization, and endurance. We’re proud to back them with financing, data, and technology they can use – from comping on the go with Backflip’s analyzer to securing a low-fee loan like Zero Gravity. We’re delighted every time a member tells us how Backflip helped them acquire and sell a home.

With the announcement of our Series A, our members may be asking: What does this mean for us? For starters, we want this new funding round to be an unshakeable sign that we’re not going anywhere. We’re building Backflip on a solid foundation, and we want you to trust that we’ll continue to serve as a valuable, reliable partner to your work.

It also means we’ll have more resources to invest in the innovations we’ve already rolled out to serve real estate entrepreneurs, as well as spearhead new ones. 

We’re thrilled to share this good news with you. And we’re exhilarated about what’s next for Backflip as we continue the rewarding and challenging work of revitalizing America’s homes.

—Josh Ernst, CEO