Blueground, a New York-based PropTech company, raised $180M in Series C funding.
The round was led by WestCap, with participation from Geolo Capital, VentureFriends and Prime Ventures. In addition, Blueground raised a $40m debt facility from Silicon Valley Bank. Together with this new round, Blueground has raised a total of $258m. In conjunction with the funding, Geolo Capital will gain a seat on the Board, to be filled by Tom Gottlieb, Co-Founder & Managing General Partner of Geolo Capital.
The company intends to use the funds to expand operations and its business reach.
Led by Alex Chatzieleftheriou, CEO, Blueground offers people to live with a curated network of thousands of homes in sought-after neighborhoods around the globe, accessible for stays of a month or longer. Its tech-enabled platform provides a fully digitized experience with customer support and access to daily necessities from apartment cleanings, grocery delivery, wellness offerings, and more. Blueground is headquartered in New York City, with a portfolio of thousands of apartments in 15 cities worldwide including in New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Denver, Seattle, Austin, Dubai, Istanbul, Paris, London, Vienna and Athens. The company plans to expand to 50 cities by 2025.