Total amount raised
$301.5 Million
Latest funding date
3/1/2024
Location
Blueground has successfully raised funds through 9 rounds, with the latest being a Series D led by Susquehanna Private Equity Investments. The company has also made strategic investments and acquisitions, including its most recent acquisition of Nestpick.
With backing from notable investors like Barclays and Deutsche Bank, Blueground continues to expand its portfolio of flexible, furnished apartments. Keep reading to explore the intricacies of Blueground's fundraising journey and the investors backing this innovative platform.
What Is Blueground?
Blueground is a company that provides flexible, furnished apartments for rent, catering to various needs such as temporary stays, corporate housing, and student accommodations. The company is involved in multiple funding rounds and has raised significant capital.
Based in New York, New York, United States, Blueground operates in industries such as Hospitality, Property Management, PropTech, and Real Estate. The company has a substantial employee base, ranging from 501 to 1000 employees.
How Much Funding Has Blueground Raised?
- Seed Round
- Amount Raised: USD 1,944,000
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Grant
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and innovation.
- Series A
- Amount Raised: EUR 5,500,000
- Date: April 2017
- Lead Investors: VentureFriends
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market presence and enhance its technology platform.
- Series B
- Amount Raised: USD 50,000,000
- Date: October 2019
- Lead Investors: Prime Ventures, WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: USD 140,000,000
- Date: September 2021
- Lead Investors: WestCap
- Valuation at Round: USD 750,000,000
- Motivation Behind the Round: To accelerate growth and expand the portfolio of furnished apartments.
- Debt Financing
- Amount Raised: USD 40,000,000
- Date: January 2022
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Series C
- Date: November 2022
- Lead Investors: DisruptAD
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance technological capabilities.
- Debt Financing
- Date: March 2024
- Lead Investors: Barclays, Morgan Stanley, Deutsche Bank, HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To replace prior facilities and support strategic growth.
- Series D
- Amount Raised: USD 45,000,000
- Date: March 2024
- Lead Investors: Susquehanna Private Equity Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate technology development and strategic initiatives.
Total Amount Raised: USD 276,944,000. Current Valuation: Not publicly disclosed.
Key Investors
- Susquehanna Private Equity Investments
- Details: Susquehanna Private Equity Investments is a private equity firm that focuses on investing in high-growth companies across various sectors. They participated as a new investor in Blueground’s Series D funding round.
- Investment Focus Areas: High-growth companies, technology, real estate.
- Notable Investments: Not publicly disclosed.
- WestCap
- Details: WestCap is an investment firm known for partnering with visionary leaders to build generational companies. They are an existing investor in Blueground and participated in the Series D funding round.
- Investment Focus Areas: Technology, real estate, high-growth companies.
- Notable Investments: Airbnb, Sonder.
- Barclays
- Details: Barclays is a British multinational investment bank and financial services company. They participated in providing a debt facility to Blueground.
- Investment Focus Areas: Financial services, debt facilities, business growth.
- Notable Investments: Not publicly disclosed.
- Deutsche Bank
- Details: Deutsche Bank is a German multinational investment bank and financial services company. They participated in providing a debt facility to Blueground.
- Investment Focus Areas: Financial services, debt facilities, business growth.
- Notable Investments: Not publicly disclosed.
- HSBC
- Details: HSBC is a British multinational investment bank and financial services holding company. They participated in providing a debt facility to Blueground.
- Investment Focus Areas: Financial services, debt facilities, business growth.
- Notable Investments: Not publicly disclosed.
What's Next for Blueground?
Blueground stands at the cusp of significant growth opportunities, driven by the increasing demand for flexible, long-term accommodations. With a portfolio of 15,000 units across 32 cities, the company is well-positioned to capitalize on the global shift towards remote work and business travel. Strategic initiatives like franchising and partnerships in new markets such as Japan and Thailand further amplify its growth potential.
Future fundraising opportunities appear promising, especially given the recent successful Series D round. The company may attract additional investments to support its technological advancements and strategic expansions. An initial public offering (IPO) could also be on the horizon, providing a substantial influx of capital to fuel further growth.
However, Blueground faces challenges such as intense competition from traditional hotels and other flexible rental providers. Managing a large and diverse portfolio while ensuring consistent quality and navigating regulatory differences across markets will be crucial. Despite these hurdles, Blueground's strategic vision and robust market position suggest a bright future ahead.
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