Durham, NC – December 2024 – Acre Homes, a tech-enabled real estate startup, has raised over $10 million in venture capital to fuel its expansion in the single-family housing market. Led by Anthemis, the seed round also included participation from Sovereign’s Capital, Home Technology Ventures, Studio VC, Front Porch Ventures, Unpopular Ventures, Duke Capital Partners, and Fred Tuomi, former CEO of Invitation Homes. The funding supports Acre Homes’ mission to deliver innovative housing solutions in key markets, including its recent launch in Atlanta.
Innovating in Housing Solutions
Founded in 2021, Acre Homes provides an alternative to traditional homeownership, enabling customers to enjoy the benefits of owning a home without the financial and logistical hurdles of a mortgage. Acre’s model offers:
- Lower Entry Costs: Customers save an average of $9,000 in purchase costs compared to traditional mortgages.
- Long-Term Financial Benefits: Projected savings and home appreciation of up to $50,000 over three years.*
The company serves diverse customers, including growing families, mobile professionals, and first-time homebuyers.
Leadership and Vision
“We founded Acre Homes to address the growing challenges Americans face in purchasing homes,” said Mike Schneider, CEO and Co-founder. “Compared to a mortgage, Acre delivers an exceptional homebuying experience and compelling financial outcomes. This round enables us to expand our reach and make a greater impact.”
Sean Park, Founder, CIO, and General Partner at Anthemis, praised Acre’s potential:
“Acre is well-positioned to deliver a consumer-centric solution in real estate. The team’s expertise and innovative approach address a complex problem, and we’re excited to support their growth.”
Growing Markets
In three years, Acre has successfully launched in Raleigh-Durham and Atlanta, with plans to expand into additional markets. The company’s experienced founding team—Mike Schneider, Kent Keirsey, Pete Crawford, and Irene Tollinger—brings expertise from leading organizations including NASA, McKinsey, Collective Health, and RE/MA.
