Total amount raised
$51.2 Millions
Latest funding date
12/1/2021
Location
Swimply has successfully raised funding through multiple rounds, attracting a diverse group of investors. The platform offers an innovative marketplace for renting private spaces such as pools, courts, and homes by the hour.
Keep reading to explore the intricacies of Swimply's fundraising journey and the investors backing this unique platform.
What Is Swimply?
Swimply, founded on July 4, 2018, in Los Angeles, California, is an innovative platform that allows users to rent private spaces such as pools, courts, and homes by the hour. The company was established by Asher Weinberger and Bunim Laskin.
Swimply's mission is to enable homeowners to monetize their underutilized assets while providing unique and joyous experiences for renters. The platform has grown to employ between 11 and 50 people, reflecting its expanding reach and popularity.
By offering a diverse range of rentable spaces, Swimply enhances local economies and fosters community engagement. The platform's user-friendly interface makes it easy for both hosts and renters to connect and enjoy these unique amenities.
How Much Funding Has Swimply Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop the initial version of the marketplace.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and improve user experience.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform features.
- Series A
- Amount Raised: $10M
- Date: May 2021
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and scaling of the platform.
- Venture Round
- Amount Raised: $40M
- Date: December 2021
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand beyond pools to other outdoor spaces and build new tools for hosts.
Total Amount Raised: $51.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm that led Swimply's $40 million funding round. They focus on early-stage investments and have a history of backing successful startups.
- Investment Focus Areas: Sharing economy, early-stage startups, technology.
- Notable Investments: Lyft, Poshmark.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital firm that has been an existing backer of Swimply. They invest across a wide range of sectors and stages.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- GGV Capital
- Details: GGV Capital is a global venture capital firm known for its significant investment in Airbnb. They participated in Swimply's $40 million funding round.
- Investment Focus Areas: Global investments, technology, consumer internet, enterprise tech.
- Notable Investments: Airbnb, other global tech companies.
- Ensemble Ventures
- Details: Ensemble Ventures, represented by Conrad Shang and Collin West, is involved in early-stage investments. They participated in Swimply's funding round.
- Investment Focus Areas: Early-stage investments, technology.
- Notable Investments: Early-stage tech startups.
- Nate Blecharczyk
- Details: Nate Blecharczyk is a co-founder of Airbnb and an angel investor in Swimply. His involvement brings significant validation and support to the platform.
- Investment Focus Areas: Sharing economy, technology.
- Notable Investments: Airbnb.
What's Next for Swimply?
Swimply's future looks promising as it plans to expand beyond pools to include hot tubs, tennis courts, and large backyard spaces. This diversification taps into a $52 billion market, with high demand for private outdoor spaces post-pandemic. The company aims to create new tools for hosts and scale up support services, enhancing user experience and platform reliability.
Future fundraising opportunities appear strong, with interest from high-profile investors like Mayfield and GGV Capital. However, challenges such as managing quality and safety, navigating regulatory requirements, and facing competition from other sharing economy platforms could pose hurdles. Despite these challenges, Swimply's innovative approach and market potential position it well for continued growth and investment.
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