Bungalow Valuation Soars Over $600 Million as Deer Park Invests

Bungalow, an online marketplace for residential real estate, has more than tripled its valuation to over $600 million after raising $75 million in equity funding.

Deer Park Road Management Co. led the round, with participation from existing investors including Coatue, Khosla Ventures, Founders Fund and Atomic, Bungalow co-founder and Chief Executive Officer Andrew Collins said in an interview. The company was last valued at $192 million in 2019, according to PitchBook data.

The San Francisco-based company has witnessed a recovery in demand and rents as young professionals who fled at the onset of the pandemic flock back to larger cities, ...