Orchard, which promises customers they can buy their next home before selling their current one, has raised $100 million at a $1 billion valuation, making the firm the latest in the growing list of New York–based unicorns.
The startup, headquartered in Midtown South, is among a growing group of technology firms targeting the housing market, which has been booming since the start of the Covid-19 pandemic. The median sales price of single-family homes rose 23% in the second quarter of the year compared with a year earlier, to $357,900, according to the National Association of Realtors.
Orchard’s product attempts to resolve headaches for homeowners selling their existing house
→ Continue reading at Crain's New York Business