Airbnb is known for its disruption of vacation rentals. Hotels are no longer the only option for travelers to book a stay at when there are also private accommodations that are interesting, cheaper, and more flexible than the average hotel service. Homelike is just another one of those startups following in Airbnb's footsteps. Based out of Germany, Homelike focuses on rentals lasting from a month and longer, often for businesses but also for other types of travelers. Homelike has recently raised $14 million and will use the funding to expand into Europe, starting with the UK.
Pointedly, the company does not believe that it is competing directly with Airbnb, in part because of its focus on those longer rentals and in part because none of the properties posted on the platform are private homes. “Homelike starts where Airbnb ends,” said co-founder and CEO Dustin Figge in an interview. Since being founded in 2015, it’s found a willing customer base on both sides of its marketplace. It currently has listings for 45,000 furnished apartments and works with more than 15,000 corporate clients across 100 cities in Germany, Austria and Switzerland, with the aim to cover all the major business hubs in Europe by the end of next year.
Led by Spark Capital, this round also included previous investors Cherry Ventures and coparion, among others. (Of note, this is the latest in a growing number of investments in Europe for Bay Area-based Spark that have focused on marketplaces and commerce. Others have included another rentals platform, Badi; travel activity platform GetYourGuide; and elderly care platform Careship, in addition to social payments app Verse.) This brings the total raised by Homelike to $18 million in disclosed investments, alongside earlier, undisclosed rounds, Figge said.
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