Knock is the latest proptech said to be eyeing the public markets



Another proptech is considering raising capital through the public arena.

Knock confirmed Monday that it is considering going public, although CEO Sean Black did not specify whether the company would do so via a traditional IPO, SPAC merger or direct listing.

“We are considering all of our options,” Black told TechCrunch. “We pioneered the real estate transaction revolution over five years ago and our priority is to build a war chest to dramatically widen the already cavernous gap between us and any unoriginal knock-offs.”

Bloomberg reported earlier today that the company had hired Goldman Sachs to advise on such a bid, which Knock also confirmed.

According to Bloomberg, Knock is potentially seeking to raise $400 million to $500 million through an IPO, according to “people familiar with the matter,” at a valuation of about $2 billion. The company declined to comment on valuation.

Black and Knock COO Jamie Glenn are no strangers to the proptech game, having both been on the founding team of Trulia, which went public in 2012 and was acquired by Zillow for $3.5 billion in 2014. The pair started Knock in 2015, and have since raised over $430 million in venture funding and another $170 million or so in debt.

Knock started out as a real estate brokerage business until last July, when the company announced a major shift in strategy and said it was becoming a lender. At the time, Knock unveiled its (Read more...)