HomeLight may have raised some $645 million in equity financing since its founding, but that doesn’t mean the referral platform is immune from industry changes. Per it’s LinkedIn page, the San Francisco-based company laid off about 19 percent of its team prior to the holiday.
“An important part of bringing our vision of making real estate more simple, certain, and satisfying to life is scaling HomeLight in a financially responsible and sustainable way. Ensuring our runway and capital allows us to continue to operate independently, regardless of the environment or market around us,” read a LinkedIn post from HomeLight.
The company noted that it provided severance, healthcare and job support for those affected by the layoffs.
According to the Real Deal, HomeLight raised $60 million at a $1.7 billion valuation just two weeks ago, making the timing of the staffing reduction even more precarious.