The short term rentals company Kasa Living has announced a Series-B funding round worth $30 million with money coming from Ribbit Capital, RET Ventures and Allegion Ventures among others. The capital raised will reportedly be invested in streamlining the company’s operations and upgrading software.
Founded in 2016 by Stanford Business School alumnus Roman Pedan who has worked in the real estate unit of private equity firm KKR, Kasa Living aims to bring more standardization and an upmarket feel to short-term stays which, according to its founder, is where Airbnb falls down.
The latest funding round comes after the company secured $20 million last year and has been raised on the back of some impressive growth during a time when similar companies have seen hard times. Kasa Living has reportedly seen growth of 50% during the pandemic period as people seek short term stays outside of city centres.