Blueground, a NYC-based real estate technology company, closed a $50M Series B funding round.
The round was co-led by WestCap Investment Partners and Prime Ventures.
The company, which has raised a total of $78M in equity funding, intends to use the funds to further develop its proprietary technology, product design, guest experience, and further expand its presence in both the United States and Europe.
The expansion begins with the launch of London, Paris and Seattle by year end 2019, and position Blueground to reach its 2023 target of serving guests in over 50 cities globally.
Led by Alex Chatzieleftheriou, CEO and co-founder, Blueground offers tech-powered apartments focusing on high-quality, residential real estate in the most vibrant markets globally for stays ranging from one month to a year or longer.
Every apartment is intentionally designed and includes premium furnishings, high-speed WiFi, and luxury linens.
Vetted guests have access to ongoing support through the Blueground app. The app provides digital access to a broad suite of value-added services such as cleaning, maintenance, and an easy relocation function that allows guests to experience new apartments in different neighborhoods and cities on demand.
To date, the company has built a portfolio of more than 2,800 apartments in nine cities around the world New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Dubai, Istanbul and Athens.