Pillow Homes (previously operating as Airenvy), a San Francisco, CA-based technology-driven hospitality company for short-term rentals, received $2.65m in seed funding.
The round was led by Homebrew with participation from Sherpa Ventures and Tim Draper.
The company is using the funds for US expansion expecting to open in 10 US cities within the next year.
Led by CEO Sean Conway and President and Co-Founder Justin Miller, Pillow offers a standard Pay-Per-Booking option that allows homeowners to pay a fee of 15% of their rental income for its management services, roughly half the price of most competitors which routinely charge anywhere from 25-40% fee. Now, the company is introducing a Fixed-Income Guarantee model, which gives homeowners a pre-determined monthly income from their short-term rentals.
Pillow’s online services include a proprietary pricing algorithm and booking engine, listing optimization and marketing, and customer service before, during, and after guests’ stay. Local services include house cleaning and preparation, guest support, key exchange, maintenance and repairs.
The company currently operates in San Francisco and the Bay Area, Sonoma, Napa Valley and Los Angeles.