Summera proptech aimed at streamlining secondary homeownership, today announced it has raised $13.4 million in seed funding led by QED investors and Lightspeed Ventures Partnersaccording to a press release.
The company, launched this year by two former Airbnb employees (CEOs Paul Kromidas and chief operating officer Buckley Wood), says he will use the funding to expand his homes and markets, and increase the size of his remote team (with a focus on engineering, sales, interior design and building roles). operation).
Through her platform, Summer aims to allow prospective homeowners to try out homes before buying and says she guarantees post-purchase income to reduce ownership costs.
He says he’s on a mission to “change the way people buy and use second homes,” and notes that through his platform, prospective homeowners have the opportunity to own real estate at a lower cost with the ability to earn equity faster.
Summer says the platform’s features include:
- Home Selection: Offering buyers a selection of homes from Summer’s portfolio of ready-to-live-in homes.
- Home Ownership Option: including Buy Now Home with Guaranteed Income or Summer’s “Try Before You Buy” offer.
- Simplified experience: The company says it designs and furnishes homes to maximize rental performance, and handles all subsequent property logistics
- Summer Network Access: Members have access to the growing Summer House Network
“We are excited about the Summer Team’s commitment to increasing homeownership. Home ownership should work for the owner, not the other way around,” said Frank Rotmanpartner at QED investors.
Summer’s portfolio currently consists of seven homes in five markets, ranging from the Hamptons and Hudson Valley in New York, Miami, the Colorado and Utah Rockies and Southern California.
The funding round also included participation from 1Sharpe Ventures, first minute capital and a number of industry angel investors, according to the statement.
“Summer’s founders bring strong proptech experiences from their previous work at Airbnb and other leading companies in the space,” said Ansaf Karimpartner at Lightspeed Venture Partners, in the release.
“They are driven by a mission to reinvent the process of owning and managing a second home. We at Lightspeed are excited to join them on this journey to democratize second home ownership,” said Kareem.
In other recent proptech news, a Zavvie The report showed how tech companies are transforming real estate with iBuying, concierge and homeownership acceleration programs. Apis Cor also raised $35 million to disrupt the homebuilding industry.
Comments are closed.