Blueground, a NYC-based company leasing selected properties and upgrades them to fully furnished and thoughtfully equipped apartments, raised $20m in funding.
Backers included New York City-based entrepreneur Kevin Ryan, who will also join Blueground’s Board of Directors.
The company, which has raised a total of $28m to date, intends to use the funds to expand its network of tech powered apartments with plans to have a presence in 50 cities around the world and a portfolio of more than 50,000 apartments by 2023.
Led by Alex Chatzieleftheriou, CEO and co-founder, Blueground is a real estate tech company that leverages city knowledge, design, and technology to offer furnished and equipped apartments for a month, a year, or longer.
The company has grown quickly, surpassing 1,700 apartments and 280 team members in nine cities such as New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Dubai, Istanbul and Athens.
Blueground has venture capital funds VentureFriends, Endeavor Catalyst and Jabbar Internet Group among its investors.