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OpenDoor knockoff Knock raises $26 million

The Foundry Group led the Series B round of real estate tech startup Knock, competing with OpenDoor

Knock Founders
Co-founders: Jamie Glenn, Karan Sakhuja, and Sean Black (Credit: Knock)

OpenDoor knockoff Knock raised a $26 million Series B equity round led by the Foundry Group. The startup acquires homes on behalf of buyers who agree to pay for the property upon the sale of their existing house. 

Revenue Model: Knock charges a 3 percent commission from both the buyer and seller. 

Opendoor is the King of the Space… The company raised $400 million from SoftBank four months ago at a valuation north of $2 billion, and is looking to raise an additional $200 million. The startup makes offers to buy an owners home within 24 hours of an online submission.

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