TurnoverBnB Raises $ 4.5 Million in Series A Funding Led by RET Ventures | Business and finance

HONOLULU – (BUSINESS WIRE) – August 17, 2021–

TurnoverBnB, a SaaS platform helping vacation rental operators find and manage cleaners for their properties, has announced the completion of a $ 4.5 million Series A increase. The funding round has been completed. led by RET Ventures, a tech-focused venture capital firm, and also included participation from Hawaii-based accelerator Blue Startups.

Founded in 2016, TurnoverBnB addresses a pressing need of short-term rental operators, providing them with a centralized platform to find and manage cleaning services for their properties. In addition to its Marketplace functionality, which allows operators to hire experienced cleaners in thousands of cities around the world, the platform offers features such as automatic scheduling and automatic payment to streamline the management process. unit cleaning. In total, TurnoverBnB’s user base includes more than 20,000 short-term rental hosts.

With individuals around the world paying increased attention to hygiene over the past year, TurnoverBnB’s business has grown significantly, as the company’s revenue has tripled since early 2021. TurnoverBnB’s business is primarily concentrated in the United States and Canada, but it is growing rapidly worldwide. footprint. This funding will provide the company with the resources to expand its international reach into Europe and Australia, with the goal of serving the entire global home and vacation rental market.

“When we founded TurnoverBnB in 2016, we realized that solving the delicate issue of cleaning in units would help support the maturation of short-term rentals, and it has been very rewarding to see our business grow alongside expanding platforms such as Airbnb and VRBO, ”said Assaf Karmon, CEO and co-founder of TurnoverBnB. “Even as COVID restrictions are lifted and travel increases, health concerns persist, which has pushed many travelers to vacation rentals instead of conventional travel accommodations. With the supply of short-term rental housing struggling to keep up with demand, services like ours – which allow faster turnover of such housing – are particularly timely, and we anticipate significant growth in the months to come.

To facilitate its geographic expansion, TurnoverBnB plans to strengthen its professional team in the short term, adding engineers, designers, customer service representatives, community managers and marketing professionals.

With a valuable platform that provides cleaning services in thousands of different cities, TurnoverBnB also offers value beyond short-term rentals, and the company is considering expansion into the single-family and multi-family rental sectors. As this expansion continues, RET Ventures will become a key partner of TurnoverBnB, providing access to its impressive group of sponsors who collectively own and operate over 2 million rental units.

“The potential of a market like the one organized by TurnoverBnB is significant, especially as the company evolves to offer more offers oriented towards the residential space,” said Aaron Ru, vice president of RET Ventures. “Over the past year, the single-family home rental market has experienced significant growth and there is a tremendous opportunity for the technologies that support the operations of the SFR portfolio. TurnoverBnB is perfectly positioned to enter this emerging sector, opening the platform to both SFR owners and institutional players.

Founded in 2016 for short-term rental operators, TurnoverBnB provides a centralized platform for listing, sourcing and managing cleaning services for homes and vacation rentals. In addition to its primary function as a marketplace for rental cleaning services, the platform offers features such as automatic scheduling and automatic payment to streamline and simplify the cleaning process for rental managers. TurnoverBnB is used by over 20,000 hosts in North America and beyond. For more information, please visit www.turnoverbnb.com.

A leading real estate technology investment firm, RET Ventures is the first industry-backed early stage venture capital fund to strategically focus on helping the creation of ‘rental technologies’. cutting edge – technology for multi-family and single-family rental real estate. RET’s strategic investor base includes some of the largest REITs and private owner-operators and property managers, who control approximately 2.4 million apartments. Thanks to its deep expertise and relationships within the industry, RET has created a unique real estate innovation ecosystem that offers significant value to the companies it supports, by giving them access to opinion leaders, partners development and continuous advice. For more information, please visit www.ret.vc.



Copyright Business Wire 2021.

PUB: 08/17/2021 2:46 PM / DISC: 08/17/2021 2:46 PM

Copyright Business Wire 2021.

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