"Remote-Friendly" Rove Secures $4m Seed Funding to Grow its Property Marketplace

January 4, 2023
Share this Post: 

New York City-based rental platform Rove has secured a $4m seed funding round to expand its "part-Airbnb, part-luxury hotel" business.

The funding round was led by a wide-ranging set of investors from Applovin, Indiegogo, ZocDoc, Tock, Lattice, Mercury, BloomTech, and other Silicon Valley companies.

Rove, launched 2021, connects investors with short- and medium-term renters looking for premium furnished stays and already operates New York, Florida, Arizona and Utah. The startup has already achieved $7m+ run-rate booking revenue and currently had circa 50 properties in its inventory.

Rove takes a novel approach to renovating its inventory to specifically cater to remote workers, including standing desks, chairs and monitors in most rooms and high-speed Wi-Fi with superior coverage across the whole of the property.

In an interview published by NY Weekly, CEO Jonah Hanig said:

"Vacation rentals are a $100B+ market, but many properties are inconsistently managed and poorly equipped for the experience modern travelers want.

"At the same time, the experience of buying short-term rental investment properties is extremely challenging and opaque. I saw from my own experience purchasing a home how difficult the renting and management process can be."

 

Read more

Ten Questions With Jonah Hanig, Founder of Rove
January 4, 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

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More