Blueground raises $28 million

Blueground, the international real estate tech company, leases fully-furnished apartments equipped with the latest technology. Recently, it announced that it had received a total of $28 million in funding till date from Kevin Ryan, the NYC-based tech entrepreneur who also joined the company’s Board of Directors, along with UAE-based Jabbar Internet Group, VentureFriends and Endeavor Catalyst.

The company has 1800 apartments in Dubai, New York, San Francisco, Los Angeles, Boston, Washington, D.C., Chicago, Istanbul and Athens; of which 400 alone are in Dubai (more than doubled from its 150 apartments in 2018). The beautifully designed apartments come with high-end gadgets, premium furnishings, high-speed Wi-Fi and more, and are available for contracts ranging from 30-180 days. In addition, the maintenance and service of the apartments are app-enabled, whereby guests can request for housekeeping and maintenance or even modify their stay to another apartment under the same contract.

Blueground has tripled its annual revenue over the last three years and aims to become the biggest tenant in Dubai by the end of 2019. Their funding would also go a long way in supporting their goal towards leasing 1,000 apartments in Dubai by 2020. It’s current clients entail individuals as well as corporate property owners such as Meraas Holding, Daman Investments, Orra International and others.

Read more about them and their objectives here.