HomeViews was founded in 2016 by Ed Barroll Brown, Managing Partner of Grafton Capital, with the vision to revolutionise transparency in the residential development market. The platform allows residents to leave verified reviews of their developments, giving future buyers and renters the insights they need to make informed decisions. Ed developed HomeViews from his original idea into the UK’s leading development review platform, before it was successfully acquired by Rightmove Plc in early 2024.
The Challenge
When Ed first conceived the idea for HomeViews, the real estate market – particularly for new build developments – was plagued by a lack of transparency. Buyers had no reliable way of understanding the quality of a development or the reputation of the developers behind it. From Ed’s dual experience both working in private equity real estate – involved with high end residential developments – and living as a resident in a new build development himself, he saw the pressing need for a platform to bring much-needed accountability and insight to the market.
However, launching a user-generated content platform in an industry resistant to transparency posed several challenges:
- The Cold Start Problem: Gathering initial reviews for the platform was a major hurdle. With no existing content, early users struggled to see the value of contributing.
- Market Resistance: Some developers, especially those focused on sales, were wary of a platform that could introduce public scrutiny into their projects.
- Change in the Industry: The Build to Rent (BTR) market changed the way a lot of developers and investors thought about their customer relationships and brand management, and as BTR grew it offered a great opportunity for product-market-fit, one that HomeViews moved quickly to capitalise on.
Ed’s Role
Ed played a central role in both the inception and growth of HomeViews. Ed began by searching for this business model to invest in, but when no solution emerged in the market to address the lack of transparency, Ed took it upon himself to execute his vision. He bootstrapped the development of an MVP by collaborating with a contractor in India and then assembled a strong team of CoFounders: Olly McGinn, Hannah Marsh, and Rory Cramer.
As the business evolved, Ed took on a more strategic role. By late 2019, HomeViews had a small early cohort of committed partners and, in early 2020, Ed transitioned to Chairman, with Rory Cramer assuming the role of CEO to lead day-to-day operations. This move enabled Ed to focus on high-level strategy while empowering the team to drive the business forward.
Finding Solutions to Business Challenges
To overcome the cold start problem, Ed and his team adopted a lean, experiment-driven methodology. Olly McGinn spearheaded efforts to manually gather reviews, literally walking the streets with a team of students to recruit contributors. This hands-on approach—the classic startup mantra of doing things that won’t scale—was crucial in building the platform’s initial content base.
As for market acceptance, Ed identified that solving this challenge was more about “who” than “how.” He had long identified Rory Cramer to join HomeViews, whose deep connections and industry respect were instrumental in gaining developer buy-in, particularly in the Build to Rent sector. With Hannah Marsh leading content marketing and public engagements, HomeViews established itself as the authoritative platform in this growing market segment, culminating in the The Times calling HomeViews, “The ratings website that’s changing housing”. The vision had become reality.
Grafton Capital’s Investment
In the final stages of Ed’s journey with HomeViews, Grafton Capital provided bridge capital as the company prepared for a potential sale. Grafton’s investment was critical in supporting HomeViews through this period, ensuring the business had the resources to scale and present itself as a strong acquisition target.
Outcome
In early 2024, HomeViews was acquired by Rightmove Plc, marking a successful exit for Ed, Grafton Capital, and the HomeViews team. The sale not only demonstrated the value of Ed’s strategic vision but also highlighted Grafton’s role in supporting high-potential businesses through their growth journeys, especially as they prepare for sale.
While the details of the acquisition remain confidential, the exit represented a significant milestone for HomeViews, achieving Ed’s original vision of bringing much-needed transparency to the UK’s residential real estate market, and HomeViews continues to thrive under Rightmove’s ownership with its unrivalled dominance amongst the UK portals. Ed exited HomeViews the largest shareholder and with a renewed empathy and respect for the founders we back at Grafton Capital.
Key Takeaways
- Visionary Leadership: Ed’s foresight in recognising the lack of transparency in the property market, and his unsuccessful search for an investable business attacking this opportunity, which led to the creation of a platform that transformed the industry.
- Strategic Team Building: By assembling a team with the right mix of industry expertise, operational drive, and market knowledge, Ed empowered HomeViews to solve its biggest challenges.
- Grafton’s Role in Growth: Grafton Capital’s timely investment provided the financial support needed to scale the business and prepare it for acquisition, contributing to a successful exit.
- HomeViews is an unusual story for a growth capital firm, and exemplifies our entrepreneurial approach, as Ed founded the business after an unsuccessful search for a growth business executing this opportunity. Ed believes the experience of founding a business, and executing on his vision has made him a better investor, with better informed empathy for founders and the roller coaster of early stage businesses. Ed’s main contribution to HomeViews was helping to solve problems, and at Grafton Capital we take that ethos into our partnerships with leading entrepreneurs. Every growth business is about finding solutions, or navigating obstacles, to deliver the plan, and we aim to be an experienced and genuinely helpful partner in that journey.
Looking to scale your tech-enabled business? At Grafton Capital, we partner with ambitious entrepreneurs to help them grow and achieve their goals. Whether you’re navigating a critical growth phase or preparing for a potential exit, our strategic capital and expertise can help you succeed.