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Online home trade-in platform Knock closes $400M financing to fuel expansion

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Online home trade-in platform Knock closes $400M financing to fuel expansion

Knock completed $400 million in series B equity and debt financing, bringing the total equity and debt raised by the company to more than $600 million.

The company, which claims to be the first online home trade-in platform, said the latest financing was led by venture capital firm Foundry Group, with participation from existing investors RRE Ventures, Corazon Capital, WTI and FJ Labs, as well as new investor Company Ventures.

Following the transaction, Foundry Group partner Seth Levine joined the board of directors of Knock, which will use the proceeds to acquire more new homes on behalf of its customers before representing them in the sale of their old homes on the open market.

Since its inception in 2015, Knock has launched in five markets: Atlanta; Charlotte and Raleigh-Durham, N.C.; and Dallas and Fort Worth, Texas.