PropTech Kasa Living Raises $79Million in Series C Investment

November 1, 2023
Share this Post: 

Flexible accommodations operator Kasa Living has closed a $70M Series C funding round led by Citi Ventures and FirstMark Capital.

Other new investors include New York Life Ventures and Fireside Investments, while previous investors RET Ventures, Zigg Capital and Ribbit Capital also retained an interest in the business.

Kasa, founded in 2016, offers managed and curated apartments, hotels and homes powered by tech-enabled hospitality. The firm has circa 70 rentable units in 42 cities across the US.

The San Francisco-based startup says that the round was oversubscribed and was upsized twice.

Kasa's company LinkedIn profile says it "partners with owners of multifamily and boutique hospitality properties, transforming underutilized real estate into stylishly-furnished, professionally managed units that cater to business and leisure travellers seeking trustworthy and comfortable accommodations."

The company says that the round will allow it to "go on the offensive" to expand its property portfolio of investor-owned properties.

Roman Pedan, founder and CEO at Kasa, said:

"We stand at a watershed moment in the evolution of the hospitality industry. Owners are grappling with rising costs, while consumers crave a seamless, digital-first travel experience in desired locations.

“Kasa is bridging this gap, revolutionising the way owners and guests alike think about accommodations. Our model isn’t just an alternative; it’s the future."

Jeff Flynn, Head of Proptech Investing at Citi Ventures, said:

"Kasa’s proprietary operating system allows its real estate partners to adapt to changing resident and guest preferences while optimising for profitability, safety, and visibility across multiple asset types.

"We believe that Citi can be a valuable partner to Kasa and its real estate owners as they continue to expand their property footprint."

Meanwhile, Kasa has named industry veteran Jonathan Langer as a new member of the firm's board of directors. Langer has previous experience at board level with KKR Real Estate Finance Trust and Hilton Hotels & Resorts.

November 1, 2023
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Funding Round Investment Capital Growth Raising 2
Hybr Raises £3.24M in Funding for First-Time Renters in the UK

Bristol-based Hybr has raised £3.24M to grow its aggregated platform for first-time renters. Investors include Blackwood Ventures, Adjuvo and individuals...

Read More
Shutterstock 1819494383
Grupo OLX Consolidates Portal CRMs on One App for Agents

Brazilian company Grupo OLX has introduced a new application tailored for its professional real estate clients that consolidates all its...

Read More
Uk Seaside Real Estate Op 1
'Material Information' Rules Laid Out For Property Listings on British Portals

The so-called 'material information' rules applying to listings on property portals in the UK have been revealed this week by...

Read More
Pisos Rental Report
Let There Be Light? Launches "Natural Light Simulator" has introduced a new tool that shows property searchers how many hours of natural light a property has before...

Read More

Editor's Pick