Rook
A place where traditional real estate finance meets DeFi.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 52 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Rook.capital, operating as Rook, was a financial technology company established in 2021 by co-founders Ed Messman and Kevin Cawley. The firm was headquartered in Boulder, Colorado, and focused on the real estate technology sector, aiming to address housing affordability.
Messman, with a 25-year background in venture capital and private equity-backed technology firms, partnered with Cawley, a technologist, to form the company. Their collaboration was driven by a shared interest in creating more accessible paths to homeownership. The company positioned itself in the market to serve homebuyers, particularly those finding it difficult to enter the housing market due to financial constraints.
Rook's core product was the "Shared Value Investment™", a home equity investment (HEI) platform. This model allowed prospective homebuyers to receive down payment assistance in exchange for a share of the property's future appreciation. This approach was designed to lower the initial financial barrier to homeownership and reduce ongoing monthly mortgage payments. The business generated revenue through these shared equity agreements, aligning its success with the success of the homebuyers and investors on its platform. The company catered to various investors, including family offices, registered investment advisors (RIAs), and individual investors, by offering a "Rook City Pool™" for diversified investment in residential real estate.
The company successfully raised $4.1 million in a seed round on September 21, 2022, from a syndicate of investors that included FirstMile Ventures, Kickstart (US), LL Funds, Service Provider Capital, and Tango VC. On April 16, 2024, Rook was acquired by Legacy Group Capital, a real estate investment firm. Following the acquisition, Messman joined Legacy as Chief Investment Officer and Cawley as Chief Technology Officer, integrating Rook's technology and HEI model into Legacy's operations to serve the "missing middle" of the housing market.
Keywords: home equity investment, HEI, real estate fintech, proptech, shared value investment, homeownership affordability, down payment assistance, residential real estate investing, Ed Messman, Kevin Cawley, Legacy Group Capital, real estate financing, shared equity model, housing finance, property technology