Andreessen Horowitz led a $26m Series A round in Flock Homes.

Andreessen Horowitz, a venture capital firm, led a $26m Series A round in Flock Homes, a real estate platform that enables rental property owners a tax-free transition to passive ownership in a pool of houses, with participation from 1Sharpe Ventures, Human Capital, Susa Ventures, Primary Venture Partners and BoxGroup. “Institutions have been doing this for a long time via a mechanism called a 721 Exchange and it takes an army of lawyers and tax professionals and complicated pieces of paper to make it work. We’re building technology to streamline that process. We’re taking something that’s existed for a number of decades and are using technology to make it more accessible to more people,” Ari Rubin, Flock Home Founder.