Scottsdale’s HomeLight Raises $40M to Launch AI Escrow Platform

A major proptech milestone is unfolding in Arizona.

HomeLight, now headquartered in Scottsdale, has secured $40 million in debt financing from BlackRock to accelerate the rollout of its new AI-powered escrow platform, EVA.

The announcement marks a significant step forward in the automation of real estate transactions—one of the most complex and fragmented processes in the industry.

Automating the Closing Process

EVA is designed as an “agentic” AI escrow officer, capable of handling a majority of the more than 120 tasks typically required to close a home transaction. From opening escrow orders to coordinating with lenders, HOAs, and government offices, the platform aims to compress timelines and reduce manual friction.

According to Drew Uher, the company’s long-term vision is to make every real estate transaction “simple, certain, and satisfying.” EVA represents a foundational step toward that goal—embedding automation directly into the closing process rather than layering it on top.

The platform integrates across more than 80 tools and includes end-to-end encryption to ensure secure transactions.

Arizona as a Proptech Hub

HomeLight’s growth story is also a reflection of Arizona’s evolving tech ecosystem.

Originally founded in San Francisco in 2012, the company relocated its headquarters to Scottsdale in 2021—the same year it reached unicorn status with a $1.6 billion valuation. Since then, it has continued to scale its platform nationally, operating across eight states with plans for broader expansion.

To date, HomeLight has raised more than $700 million in combined equity and debt financing, backed by major investors including Google Ventures and Menlo Ventures.

What This Signals for Silicon Oasis

This latest raise reinforces a broader trend: Arizona is no longer just attracting large-scale industrial investment—it’s becoming a proving ground for applied AI companies.

Proptech, in particular, is emerging as a key vertical within the state’s innovation economy. With deep ties to real estate development, migration growth, and capital markets, Arizona offers a unique environment for companies like HomeLight to test and scale new technologies.

As Silicon Oasis continues to take shape, wins like this highlight the increasing overlap between traditional industries and next-generation technology.

The future of real estate transactions may not be paperwork-heavy and manual.

It may look a lot more like EVA.