Redfin announced a mezzanine investment of $50 million led by Tiger Global Management and by portfolios managed by T. Rowe Price Associates.

In addition, previous Redfin investors Greylock Partners, Globespan Capital Partners, DFJ Venture Capital, Vulcan Capital and The Hillman Company are also participating.

The capital raised will go to new technology to make every step of home-buying and selling better for consumers.

Redfin's devotion to the customer was apparent from our first meeting with the company," said Lee Fixel, Tiger Global partner. "The real estate industry is ready for an innovator who understands how business can be transformed by putting the customer first, as we've seen with many industries before. We are confident this strategy will create significant value for all stakeholders over the long term."