Wisconsin-based hospitality platform Frontdesk
has landed $13 million in Series B financing. The funding round was led by
Stormbreaker Ventures with support from JetBlue Technology Ventures, Veritas
Innovations, Motivate Venture Capital and several strategic investors.
latest round brings the short-term-rental startup to $22 million in total equity financing.
the world becomes more digital and more flexible, the need for our product has
never been greater,” says Jesse DePinto, Frontdesk co-founder and CEO.
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are grateful to be joined by partners who support our vision to power the
future of dynamic living and meet the contemporary needs of living, working and
traveling,” DePinto adds. “As we look toward the future, we are now even more
excited about the generational opportunity ahead and Frontdesk’s leadership
position within our category.”
in 2017, Frontdesk offers short-term stays in multifamily communities across 30
U.S. markets. The company was selected as a PhocusWire
Hot 25 Startup for 2022.
Frontdesk has picked
up units from shuttered competitors such as Wanderjaunt, Stay Alfred and
Domio. The alternative-accommodation brand says it manages one of the largest collections of short-term rental units in the country, with more than 1,000 units in 150-plus buildings.
its proprietary software enables it to better serve guests and automate and
scale internal operations. It continues to acquire new
properties to add to its portfolio and plans to use the capital to expand into
existing markets and buildings.
Frontdesk board member and partner at Stormbreaker Ventures, speaks to Frontdesk’s
strong leadership and best-in-class technology, Frontdesk has built a
sustainable, scalable business, and we are thrilled to continue being a part of
their growth,” says Freed.
partner at JetBlue Technology Ventures, says the short-term rental company is “exactly the type of business we believe will be a
great partner for JetBlue Technology Ventures and our existing portfolio of
early stage startups improving the future of travel and hospitality.”
from Vacasa, Hostfully, Evolve and others at The Phocuswright Conference 2022