Roomi has debuted with a number one ranking in the Apple App Store for finding roommates alongside a round of $2 million in seed funding led by DCM Ventures. Roomi has seen early, rapid interest from users, locking in approximately 100,000 downloads and growing. Roomi plans to use the funding to ramp up with new features, expand to Android and hire top-tier talent.
Unlike other roommate finding apps, Roomi is creating a mobile app marketplace that utilizes an extensive social graph, allowing users to create a profile and search for potential roommates and rooms with a few quick steps. Every listing and user is vetted and verified before going live for security. The app’s built-in chat allows users to connect safely and encourages open communication about issues important for successful roommate relationships like shared values, common interests and compatible lifestyles.
“New York is an expensive city. But when rent spikes and income flat lines, you have a situation that’s pushing more and more people into shared living situations — many of which deteriorate quickly because the services that currently exist don’t provide the visibility needed to form a lasting co-living environment,” said Ajay Yadav, founder and CEO of Roomi.
Focusing on extensive research, Yadav developed the mobile marketplace to help solve the New York housing nightmare: steadily rising rent, stagnant wages and no simple way to find affordable housing. The app uses a simple user-to-user approach to connect two groups of people: those with empty rooms to fill and those searching for a new home — both trying to cut costs in a city where 44 percent of residents spend over 35 percent of their income on rent.
“The Roomi app is a step into the future,” said Osuke Honda, general partner at DCM Ventures. “With new mobile tools, we are past the time of blindly moving into a place with little information about the people you are living with. Roomi’s social graph and housing details make it possible to have more transparency and security about a potential living situation — from roommate and apartment searches now to booking and ID verification to rent payment processing in the future. Roomi is covering it all.”