Villa, the San Francisco-based offsite homebuilding platform, announced that it raised $20 million of new funding.
The latest round was led by Unless with participation from existing investors Atomic and Tectonic Ventures, and other undisclosed strategic investors. This funding will enable Villa to scale its operations and advance its offsite homebuilding endeavors.
In addition to its platform-level fundraise, Villa has established a “PropCo” development joint venture with Unless with an initial commitment of $20 million of equity capital. According to the company, this joint venture is funding development of entry-level homes using Villa’s offsite construction platform across multiple projects located in prime locations. The joint venture has already closed on its initial acquisitions of infill development land sites in both California and Colorado, which are now breaking ground, and Villa said it will begin delivering homes for sale later this year.
“We believe the best solution to America’s housing affordability and availability crisis is to increase the supply of smaller, entry-level homes by using modern offsite construction, technology, and operational discipline to rethink how homes are built and bought,” said Villa CEO Sean Roberts. “While building homes in factories is something America has done for decades, it has been an underutilized tool for adding new housing in the context of the current affordability crisis. Offsite construction delivers faster timelines and drives greater cost efficiency than most other methods. With Villa pushing the frontiers of how offsite construction can be deployed, offsite is poised to become a much bigger portion of the supply landscape in the coming decade.”
