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§ Private Profile · Denver, CO, USA
Real estate investment platform simplifying rental property management for landlords via tech-enabled 721 Exchange for passive income.
Based in Denver, Colorado, Flock Homes is a real estate investment platform that enables individual landlords to exchange their rental properties into a professionally managed portfolio of single-family homes. The company utilizes a technology-enabled 721 Exchange mechanism to allow property owners to defer capital gains taxes, preserve wealth, and generate passive income without the day-to-day responsibilities of property management. The organization operates the Flock Fund, which launched with its first client in 2021 and charges management fees to provide returns for passive investors. Demonstrating financial scale, the enterprise successfully secured $21 million in total funding during a capital raise announced in March 2025. The corporate leadership team includes key figures such as Bradley Svrluga, Alex Cettina, Leanne Dunn, and Matthew McEveety. Flock Homes was founded in 2020 by Ariel Rubin and Ryan Illsley.
Flock Homes has raised $68.0M across 3 funding rounds.
Flock Homes has raised $68.0M in total across 3 funding rounds.
Flock Homes has raised $68.0M in total across 3 funding rounds.
Flock Homes's investors include Renata Quintini, 1Sharpe Ventures, Andreessen Horowitz, Primary Venture Partners, Susa Ventures, Bullpen Capital, Obvious Ventures, Renegade Partners, Trinity Ventures, Eric Wu, Sri Batchu, Alex Rampell.
Flock Homes has raised $68.0M across 3 funding rounds. Most recently, it raised $20.0M Series B in May 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 13, 2025 | $20M Series B | Renata Quintini | 1sharpe Ventures, Andreessen Horowitz, Primary Venture Partners, Susa Ventures | Announced |
| Mar 1, 2025 | $22M Series B | — | Andreessen Horowitz, Bullpen Capital, Obvious Ventures, Primary Venture Partners, Renegade Partners, Trinity Ventures, Eric WU, SRI Batchu | Announced |
| Mar 1, 2022 | $26M Series A | Alex Rampell | Andreessen Horowitz, Bullpen Capital, Obvious Ventures, Primary Venture Partners, Renegade Partners, Trinity Ventures, Eric WU, Fred Tuomi, Gregor Watson, 1sharpe Ventures, BoxGroup, Human Capital, Susa Ventures | Announced |
Flock Homes is a real estate technology company founded in 2020 that enables individual landlords to exchange their rental properties into shares of a diversified, professionally managed portfolio of single-family rentals via a tech-enabled 721 Exchange, deferring taxes and transitioning them from active management to passive income.[1][2][3][6] It serves property owners seeking to preserve wealth, eliminate day-to-day hassles like repairs and tenant issues, and access institutional-grade strategies previously reserved for large investors, with over 185 clients and a portfolio including 110+ homes across markets like Denver, Austin, Texas, and Kansas City.[1][2] The platform solves key pain points of landlording—management burdens and lack of diversification—by handling valuations, due diligence, legal work, and operations, generating quarterly income and appreciation potential while operating an asset-light model.[1][5][6][7]
Flock Homes was founded in 2020 by CEO Ari Rubin and a team with decades of experience from leading real estate and investment institutions, headquartered in Denver, Colorado, with dual offices in San Francisco.[1][2][4] The idea emerged from recognizing that while being a landlord builds wealth, it involves stressful management and limited diversification; institutions had long used 721 Exchanges (an IRS-approved tax-deferral mechanism) with armies of lawyers, but individuals lacked accessible tech to do the same—Flock built the first seamless platform to democratize this.[1][2][5][6] Early traction included a $6.5M seed round in 2021 led by Primary Ventures, Susa Ventures, and BoxGroup, followed by a $26M Series A in March 2022 led by a16z, bringing total funding to $32.5M and enabling expansion to new markets like Seattle; by then, it had 110 homes and 17 employees, later growing to 11-50 staff with $12.2M revenue.[2][3][4]
Flock rides the proptech wave intersecting real estate tokenization, passive investing, and rental market digitization, capitalizing on rising demand for hands-off ownership amid housing shortages, high interest rates, and landlord burnout post-pandemic.[2][5][6] Timing is ideal as single-family rentals boom (institutional investors like Redwood Trust have backed it), yet individuals hold most properties and seek diversification without tax hits—Flock's tech lowers barriers, aggregating fragmented ownership into scalable funds.[1][3][5] Market forces like AVM advancements, remote management needs, and IRS-approved structures favor it, influencing the ecosystem by improving resident experiences via tech, enabling landlord exits/retirements, and paving the way for broader real estate democratization beyond DSTs or iBuyers.[2][5][7]
Flock is poised to scale its portfolio and markets with its funding war chest, potentially hitting thousands of properties as proptech matures and economic pressures push more landlords toward passivity.[2][3] Trends like AI-driven valuations, embedded finance for redemptions, and rental demand in Sun Belt cities will accelerate growth, while regulatory stability around 721s sustains its edge; influence may evolve toward larger fund operations or partnerships with REITs, solidifying its role in making real estate investing as seamless as stocks.[1][6] This positions Flock to transform how everyday owners build generational wealth, echoing its founding mission to unlock freedom from landlord stresses.