Lennar

Lennar Corporation, established in 1954 and based in Miami, Florida, is among the largest homebuilders in the United States. The company specializes in constructing quality homes that cater to a diverse range of buyers, including first-time, move-up, and active adult consumers. Lennar offers a variety of housing options, including affordable, move-up, and retirement homes, tailored to different lifestyles in urban, golf course, active adult, and suburban communities. In addition to its homebuilding operations, the company provides mortgage financing and related services through its financial-services segment. Lennar is also engaged in the construction of multifamily and single-family rental properties and has made investments in various housing-related technology startups.

Richard Beckwitt

Director

Bruce E. Gross

CEO Lennar Financial Services

Stuart Miller

Executive Chairman, Co-CEO and Board Member

22 past transactions

Rausch Coleman Homes

Acquisition in 2024
Rausch Coleman Homes, established in 1957 in Fayetteville, Arkansas, is a real estate company that specializes in building and selling move-in ready homes. The company is involved in all aspects of community development, including land acquisition, home design, street planning, and creating public spaces like parks. This comprehensive approach allows Rausch Coleman Homes to offer customers high-quality, well-planned living environments that enhance their quality of life.

Veev

Acquisition in 2023
Veev Inc., established in 2017 and located in Minneapolis, Minnesota, is a building technology company focused on transforming the construction and experience of homes. It offers a comprehensive home operating system that integrates room-specific lighting, climate control, and security features, addressing a wide range of smart housing needs. Veev utilizes innovative materials such as light gauge steel for framing and high performance acrylic for surfaces, alongside advanced systems for radiant climate control. The company's offerings include a panelized building system and a digital ecosystem that enhances home management, safety, and maintenance. Currently, Veev is concentrating on high-performance multifamily units and accessory dwelling units (ADUs), with a development pipeline that encompasses over 230 units and 620,000 gross building square feet.

Cover

Series B in 2021
Cover is a technology company that specializes in creating custom Backyard Studios and guesthouses as energy-efficient housing alternatives. The company employs proprietary design software to assess property specifications, facilitating a streamlined process that encompasses design, permitting, manufacturing, and installation. By utilizing a precision manufactured building system, Cover aims to deliver high-quality designs and functional spaces in significantly less time compared to traditional construction methods. Initially launched in Los Angeles, the company is now accepting pre-orders on a global scale, reflecting its commitment to making well-designed living spaces accessible to a broader audience.

Dandelion Energy

Series B in 2021
Dandelion Energy, Inc. is a Palo Alto, California-based company founded in 2017 that specializes in affordable geothermal heating and cooling solutions. The company replaces traditional air conditioning and heating systems with an innovative home geothermal system that utilizes a powerful heat pump and underground pipes to transfer heat between the earth and the residence. This system is designed to harness thermal energy from below the earth's surface to regulate indoor temperatures and provide hot water, allowing homeowners to transition from conventional heating fuels to a more sustainable geothermal alternative. Dandelion Energy is committed to making renewable heating and cooling accessible and cost-effective for homeowners.

Cover

Series A in 2020
Cover is a technology company that specializes in creating custom Backyard Studios and guesthouses as energy-efficient housing alternatives. The company employs proprietary design software to assess property specifications, facilitating a streamlined process that encompasses design, permitting, manufacturing, and installation. By utilizing a precision manufactured building system, Cover aims to deliver high-quality designs and functional spaces in significantly less time compared to traditional construction methods. Initially launched in Los Angeles, the company is now accepting pre-orders on a global scale, reflecting its commitment to making well-designed living spaces accessible to a broader audience.

Hippo Insurance

Series E in 2020
Hippo Insurance Services is a home insurance provider that aims to redefine homeowner protection through a comprehensive approach. The company utilizes real-time data and smart home technology to create an integrated home protection platform designed to alleviate the concerns associated with homeownership. Headquartered in Palo Alto, California, with additional offices in Austin and Dallas, Hippo offers its insurance products to over 80 percent of U.S. homeowners across 37 states. The company covers a wide range of assets, including electronics, home offices, and appliances, while also providing unique coverage options for water backup and service lines. Hippo operates through various segments, with the majority of its revenue generated from its Insurance-as-a-Service platform, which supports third-party managing general agents. As a licensed property casualty insurance agent, Hippo collaborates with multiple insurance companies to underwrite its products.

Dandelion Energy

Series A in 2020
Dandelion Energy, Inc. is a Palo Alto, California-based company founded in 2017 that specializes in affordable geothermal heating and cooling solutions. The company replaces traditional air conditioning and heating systems with an innovative home geothermal system that utilizes a powerful heat pump and underground pipes to transfer heat between the earth and the residence. This system is designed to harness thermal energy from below the earth's surface to regulate indoor temperatures and provide hot water, allowing homeowners to transition from conventional heating fuels to a more sustainable geothermal alternative. Dandelion Energy is committed to making renewable heating and cooling accessible and cost-effective for homeowners.

Level Home

Corporate Round in 2019
Level Home Inc. is a technology company focused on home automation, specializing in the development and manufacturing of smart door locks. Founded in 2016 and headquartered in Redwood City, California, the company offers the Level Lock, which is installed inside the door and allows users to lock and unlock their doors via a smartphone, providing real-time notifications of entry and exit. In addition, Level Home provides the Level App, which tracks all activity and enables guests to access homes, further enhancing security and convenience. The company's locks feature automatic locking and unlocking capabilities and allow users to create and share temporary guest passes, making homes more secure and easily accessible. The team at Level Home is composed of experienced professionals from leading technology firms, reflecting the company's commitment to innovation and enhancing everyday living through advanced technology.

Divvy Homes

Series B in 2019
Divvy Homes, founded in 2017 and headquartered in San Francisco, California, is a technology-driven real estate platform that aims to make homeownership more accessible. The company operates in key markets, including San Francisco, Atlanta, Cleveland, and Seattle, offering a rent-to-own model that allows customers to select any home on the market. Divvy Homes purchases the property on behalf of the renter, who then makes monthly rent payments while building savings toward a future purchase. This approach not only assists individuals in overcoming barriers to homeownership but also provides them with the flexibility to buy their home when they are ready or to walk away and cash out their savings. Through its services, Divvy Homes seeks to address the housing affordability gap and provide a transparent path to homeownership for families.

Proof

Series B in 2019
Proof is an identity verification platform that focuses on enhancing the security of business transactions. By verifying identities, it ensures that digital transactions are conducted with a high level of trust and security. This platform aims to protect both businesses and their customers by providing a reliable framework for identity assurance and transaction management. Through its services, Proof facilitates secure interactions in an increasingly digital landscape.

Hippo Insurance

Series D in 2019
Hippo Insurance Services is a home insurance provider that aims to redefine homeowner protection through a comprehensive approach. The company utilizes real-time data and smart home technology to create an integrated home protection platform designed to alleviate the concerns associated with homeownership. Headquartered in Palo Alto, California, with additional offices in Austin and Dallas, Hippo offers its insurance products to over 80 percent of U.S. homeowners across 37 states. The company covers a wide range of assets, including electronics, home offices, and appliances, while also providing unique coverage options for water backup and service lines. Hippo operates through various segments, with the majority of its revenue generated from its Insurance-as-a-Service platform, which supports third-party managing general agents. As a licensed property casualty insurance agent, Hippo collaborates with multiple insurance companies to underwrite its products.

Doma Holdings

Series B in 2019
Doma Holdings Inc. is redefining the real estate transaction process by leveraging machine intelligence and patented technology to create an instant and affordable closing experience. The company operates through two main segments: Underwriting and Corporate and Other. The Underwriting segment primarily generates revenue through its title insurance underwriting business, which includes policies from both Direct Agents and Third-Party Agents. The Corporate and Other segment encompasses operations related to title, escrow, and settlement services. By streamlining these processes, Doma aims to architect the future of real estate transactions, enhancing efficiency and accessibility for all stakeholders involved.

Opendoor Technologies

Series E in 2019
Opendoor Technologies Inc., established in 2014 and based in San Francisco, operates a digital platform for residential real estate in the United States. Its platform facilitates the buying and selling of homes online, streamlining the traditional process. Opendoor enables sellers to receive offers without listing or showing their homes, while buyers can browse and instantly unlock properties using the company's application. The company generates revenue through home sales and additional real estate services.

Dandelion Energy

Series A in 2019
Dandelion Energy, Inc. is a Palo Alto, California-based company founded in 2017 that specializes in affordable geothermal heating and cooling solutions. The company replaces traditional air conditioning and heating systems with an innovative home geothermal system that utilizes a powerful heat pump and underground pipes to transfer heat between the earth and the residence. This system is designed to harness thermal energy from below the earth's surface to regulate indoor temperatures and provide hot water, allowing homeowners to transition from conventional heating fuels to a more sustainable geothermal alternative. Dandelion Energy is committed to making renewable heating and cooling accessible and cost-effective for homeowners.

Dandelion

Series A in 2019
Dandelion is a developer and provider of a marketing platform designed to facilitate the seamless discovery of content and commerce. The company enables sellers and service providers to utilize existing content, such as product catalogs and marketplace listings, to create effective advertisements. These ads can be deployed across social media channels, thereby enhancing marketing efforts. Dandelion's vision is to empower individuals and businesses to easily engage in marketing activities, fostering an environment where anyone can participate as a marketer in addition to being a seller.

Doma Holdings

Series B in 2019
Doma Holdings Inc. is redefining the real estate transaction process by leveraging machine intelligence and patented technology to create an instant and affordable closing experience. The company operates through two main segments: Underwriting and Corporate and Other. The Underwriting segment primarily generates revenue through its title insurance underwriting business, which includes policies from both Direct Agents and Third-Party Agents. The Corporate and Other segment encompasses operations related to title, escrow, and settlement services. By streamlining these processes, Doma aims to architect the future of real estate transactions, enhancing efficiency and accessibility for all stakeholders involved.

Hippo Insurance

Series C in 2018
Hippo Insurance Services is a home insurance provider that aims to redefine homeowner protection through a comprehensive approach. The company utilizes real-time data and smart home technology to create an integrated home protection platform designed to alleviate the concerns associated with homeownership. Headquartered in Palo Alto, California, with additional offices in Austin and Dallas, Hippo offers its insurance products to over 80 percent of U.S. homeowners across 37 states. The company covers a wide range of assets, including electronics, home offices, and appliances, while also providing unique coverage options for water backup and service lines. Hippo operates through various segments, with the majority of its revenue generated from its Insurance-as-a-Service platform, which supports third-party managing general agents. As a licensed property casualty insurance agent, Hippo collaborates with multiple insurance companies to underwrite its products.

Blueprint Power

Series A in 2018
Blueprint Power, established in 2017 and headquartered in New York, specializes in transforming commercial buildings into power plants through advanced machine-learning tools. The company automates energy asset management, aggregation, and market transactions, enabling real estate portfolios to generate excess supply and sell it to markets in need of higher-quality electricity. This process creates additional revenue streams for property owners and promotes the growth of clean, distributed energy. Founded by tech innovators from companies like Google and Boeing, Blueprint Power is backed by prominent investors from real estate, energy, and tech sectors.

Opendoor Technologies

Series E in 2018
Opendoor Technologies Inc., established in 2014 and based in San Francisco, operates a digital platform for residential real estate in the United States. Its platform facilitates the buying and selling of homes online, streamlining the traditional process. Opendoor enables sellers to receive offers without listing or showing their homes, while buyers can browse and instantly unlock properties using the company's application. The company generates revenue through home sales and additional real estate services.

CalAtlantic Homes

Acquisition in 2018
CalAtlantic Group was a prominent provider of homebuilding services, formed from the merger of Ryland and Standard Pacific, combining nearly a century of industry experience. The company operated in 17 states with 26 divisions, serving 41 major markets, and was recognized for its well-crafted homes in thoughtfully designed communities. In addition to homebuilding, CalAtlantic offered mortgage financing and title services through its subsidiaries and joint ventures. Its strong focus on customer satisfaction and quality positioned it as a significant player in the new home sector until its acquisition by Lennar in February 2018.

Opendoor Technologies

Debt Financing in 2018
Opendoor Technologies Inc., established in 2014 and based in San Francisco, operates a digital platform for residential real estate in the United States. Its platform facilitates the buying and selling of homes online, streamlining the traditional process. Opendoor enables sellers to receive offers without listing or showing their homes, while buyers can browse and instantly unlock properties using the company's application. The company generates revenue through home sales and additional real estate services.

WCI Communities

Acquisition in 2016
WCI Communities is a construction and engineering company based in Bonita Springs, Florida, specializing in the development of master-planned communities. The company creates single and multi-family homes, residential towers, condominiums, and hotels, catering to over 150,000 residents who benefit from amenity-rich lifestyles. In addition to its home-building operations, WCI also provides complementary real estate brokerage and title services. The organization is dedicated to delivering high-quality construction and exceptional customer service, ensuring a positive experience for its customers.
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