- Mogul has raised $15.5M in a Series A led by Draper Associates at a $125.5M valuation.
- The round ran 55% above its $10M target, taking total funding past $23.6M.
- Mogul says AI cut manual effort per property by 89% as it passed 150 properties.
Mogul‘s first property offering, in 2022, was a Dallas rental home sold through blockchain tokens that let investors put in as little as $1. Its 2026 pitch to investors is artificial intelligence.
The Washington, D.C., company has closed a $15.5 million Series A led by Draper Associates, 55% above its original $10 million target, at a valuation of $125.5 million.
Mogul says the oversubscribed round brings total funding to more than $23.6 million. Its disclosed rounds do not fully explain that figure. After a $3.6 million seed round in November 2023, led by AY Ventures, the company reported $4.2 million raised in total. Adding $15.5 million brings the total to $19.7 million, so more than $3.9 million comes from capital Mogul has not itemised.
From Goldman Sachs and blockchain to AI
Alex Blackwood and Joey Gumataotao founded Mogul in 2022 after working in Goldman Sachs’ Real Estate Investment Group. Blackwood, a Georgetown graduate, started in Goldman’s investment banking division before moving into real estate private equity. Gumataotao studied economics at Harvard. Each put $50,000 of their own money into the business in late 2022, Entrepreneur reported, and Draper Associates added $350,000 in a pre-seed round.
“The Series A raise validates our thesis that real estate is ready for an AI-powered overhaul. The industry is ripe for innovation and presents a trillion-dollar market cap opportunity,” said Blackwood, Mogul’s CEO and co-founder.
Mogul lets investors buy into individual residential properties and receive monthly distributions. For example, an investor can put $250, the minimum on its website, into a share of one home.
The company says its AI supports supply operations, targeting, performance analysis and asset monitoring. It has grown to more than 150 properties with four supply-focused employees, and says it cut the time per property from 18 hours to two, an 89% drop in manual effort.
Mogul reports more than $110 million in facilitated investments, more than 50,000 investor signups, and an 80% repeat investment rate. It targets an internal rate of return, the annualised yearly return on an investment, of 12% to 20%. When it announced its seed round, it cited a projected return of 20% to 26%.
Who is backing Mogul, and what the money is for
Draper Associates led the round. Its founder, Tim Draper, was an early investor in Tesla and Skype, and the firm co-led a $300 million round into Radiant Nuclear in December 2025. Draper Associates, Draper Dragon and Ava Labs’ Blizzard Fund also backed Mogul’s seed round, so they are returning investors.
Stephen Sullivan and Dr. Alex Jovanovich, founders of the telehealth company BlueChew, took the largest participation, according to Mogul. LAUNCH, the fund of Jason Calacanis and an early backer of Uber and Robinhood, joined alongside Venture Togethers and Gaingels. None of these investors was named in the seed announcement.
“We invested in Mogul at the pre-seed stage because Alex and Joey had elite institutional pedigree and a bold vision for a fundamentally different model for real estate investing,” said Draper, founder of Draper Associates. He added that Blackwood presented a business update at a Draper summit as “one of our top-performing portfolio companies.”
“Mogul is our biggest outside start-up investment so far because it seems clear that Alex and Joey have a truly disruptive business model that can become the #1 brand in the category very quickly. After a few months of chatting with Alex, it felt like a no-brainer,” added Sullivan, co-founder and CEO of BlueChew.
“The Series A supercharges our supply infrastructure, allowing us to continue improving as we scale. Our thesis, process, and vetting have only strengthened as we’ve grown. This capital will help us expand our platform and portfolio while maintaining the precision and discipline our investors expect,” noted Gumataotao, Mogul’s co-founder.
Mogul expects a $9 million revenue run rate by year-end and aims for $60 million within 18 months. At $125.5 million, the valuation is about 14 times the year-end figure, and the target implies roughly 6.7 times growth. The founders describe the end goal as a vertically integrated infrastructure layer for residential real estate investing.
A crowded field and a $47.9T market
Mogul’s closest US rival is Arrived, the Seattle platform backed by Bezos Expeditions that sells shares in rental homes from $100. Arrived raised $27 million led by Neo in November 2025,CNBC reported, taking its total funding to $61.7 million.
London’s Bricksave offers fractional property ownership across borders and had raised nearly $5 million, according to a January 2026 TFN interview with its CEO. Miami’s Propy goes after the closing instead. It secured a $100 million credit facility from Metropolitan Partners Group on January 29, 2026, to buy title and escrow firms and automate closings with AI agents. Propy says Tim Draper also backs it.
While Arrived and Bricksave sell shares in homes, and Propy automates the closing, Mogul says its edge is AI that makes finding and vetting properties cheaper.
The US single-family housing market was worth $47.9 trillion in the fourth quarter of 2025, with $34.1 trillion in household equity, according to Ginnie Mae’s April 2026 report. Total value slipped from $48.0 trillion in the third quarter, and household equity fell about 0.73%. AI is reaching other parts of the sector too. Germany’s syte raised €9 million in September 2026 and says its platform cut property due diligence checks from weeks to minutes.
Mogul’s website says it charges a 5% fee on each property’s purchase price, which covers finding, vetting and onboarding the home. That is the supply work the company says AI has cut by 89%.
If sourcing gets cheaper, the open question is whether the savings reach investors’ returns or Mogul’s margin. The harder test is whether the vetting stays as strict when the target is a $60 million run rate.
