The north Puget Sound region can produce billion-dollar companies, too.
Bellingham-based real estate tech startup Place has raised a $100 million Series A, putting its value at more than $1 billion, according to the company. Goldman Sachs Asset Management led the round, while 3L Capital participated.
Place has achieved "unicorn" status, or a value of at least $1 billion, rather quickly, as the company was founded last year. It works with real estate agents to offer solutions in marketing, accounting, legal and human resources.
Place is in more than 100 markets across the U.S. and Canada, according to the company. Consumers can also use Place to search for homes in certain zip codes, like with tools from Seattle-based companies Redfin and Zillow.
“The top 20% of agents in any market serve the vast majority of consumers that need to buy, sell or invest in real estate,” Ben Kinney, co-founder of Place, said in a news release. “Those top agents are our customers. We help them solve the problems that are holding their businesses back."
Place said the funds will go toward hiring talent and investing in its technology. On its website, the company has open roles in accounting, design and client services.
Goldman Sachs Asset Management oversees more than $2 trillion in assets as of the end of September. According to the firm, it has invested more than $13 billion in its portfolio companies since 2003. 3L Capital, meanwhile, has invested in multiple high-profile companies, including Gopuff, The RealReal and Smile Direct Club. Gopuff, for example, reached a value of $15 billion in July.
“We were attracted to Place by its battle-tested technology and leadership team that has dedicated their careers toward helping high-performing agents and teams succeed,” Paul Pate, vice president of Goldman Sachs Asset Management, said in a news release.
