Durham-based Acre Homes Raises Over $10MM from VCs Amid Growing Consumer Demand for Single Family Housing Solutions

Acre is a new way to buy a home that streamlines the end-to-end homeownership experience and delivers compelling financial outcomes.

DURHAM, N.C., Dec. 17, 2024 /PRNewswire/ -- Acre Homes, a tech-enabled real estate company, announced the successful close of a seed round led by Anthemis, bringing its total venture capital raised to over $10MM. The fundraise included notable participation from Sovereign's Capital, Home Technology Ventures, Studio VC, Front Porch Ventures, Unpopular Ventures, Duke Capital Partners, and former CEO of Invitation Homes Fred Tuomi. The funding will support the company's efforts to accelerate growth in existing markets, including newly launched Atlanta.

"We believe Acre is well-positioned to deliver a sorely needed, consumer-centric solution in real estate," said Sean Park, Founder, CIO and General Partner at Anthemis. "The team's deep expertise and unique approach to solving a very real, very complex problem is impressive, and we look forward to supporting their growth."

"Our team is thrilled to have secured this investment, particularly given the challenges of the current fundraising environment," said Mike Schneider, CEO and Co-founder of Acre Homes. "This success is a reflection of the quality of our team, encouraging market traction, and the widespread interest in supporting innovative housing solutions. We founded this company because buying a home no longer makes sense for a growing number of Americans. Compared to a mortgage, Acre delivers an exceptional homebuying experience and compelling financial outcomes. This round enables us to expand our reach and impact for even more prospective home buyers."

Acre was founded in 2021 by Mike Schneider (First, RE/MAX), Kent Keirsey (US Army, First, Collective Health), Pete Crawford (US Army, McKinsey & Company), and Irene Tollinger (NASA, Collective Health), experienced entrepreneurs in real estate and technology. In just three years, Acre has successfully launched in the greater Raleigh and Atlanta metro areas, serving a broad range of customers looking for a strong alternative to both renting and a traditional mortgage.

Early Acre customers include growing families, mobile professionals, and both new and experienced homebuyers. Compared with a traditional mortgage, the average Acre customer has saved $9K in purchase costs, and is projected to benefit from an additional $50K through ongoing savings and home appreciation*.

*Based on an estimated 4% home price appreciation over three years and other savings versus a comparable mortgage.

About Acre Homes
Acre Homes is a Durham, NC-based company building a better way for customers to buy and live in homes they love. The company's modern approach simplifies the home buying process and provides flexible, financially attractive options for residents. Acre's unique shared home appreciation model gives customers a way to benefit from their home's appreciation without debt. To learn more, visit www.acrehomes.com.

Media Contact
Genie Ko
genie at acrehomes dot com

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