Rental Marketplace Dwellsy Raises $11.5 Million in Oversubscribed Round
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LOS ALTOS, Calif., November 15, 2023-- Dwellsy, the rental marketplace with the most comprehensive data and listings, today announces the close of an oversubscribed $11.5 million seed funding round. Ulu Ventures led the round, joined by the University of Chicago, Frontiers Capital, Heroic Ventures, NJP Ventures, Blackhorn Ventures, Gaingels, and the BCG Angels. Dwellsy, which launched four years ago, hosts a consumer-facing marketplace and provides quality, enterprise-level rental price data-something that previously has not been available nationally. The data, which is continuously refreshed, includes information on over 14 million rental units. More than 250 attributes are covered, providing extensive details for informed decision-making.
"Dwellsy's success is due to pent-up demand for a rental housing marketplace that provides an amazing experience for renters; zero-cost, high-quality listings for residential rental owners and managers; and high-quality property rental price data for businesses," said Jonas Bordo, Dwellsy's CEO and cofounder. "There's a huge base of renters and owners who need help navigating a system that's more complex than it's ever been-particularly with the rental fraud happening on other platforms."
"In Dwellsy, we saw an opportunity for an enormous unserved market-renters-to get the great service they've always wanted and deserved," said Steve Reale, partner, Ulu Ventures, and Dwellsy board member. "Dwellsy is the first company we've seen that can remake this broken market, improving lives for America's 110 million renters and 10 million landlords-and addressing an $800 billion-plus market in the process."
Rosalind and Jonas Bordo created Dwellsy in 2019. The husband-and-wife team quickly built the largest-ever inventory of available rental properties. Property managers, landlords, and renters have embraced the platform in record numbers. As of September 2023, over 14 million individual rental homes and apartments list on Dwellsy when they have availability. "We're honored to partner with over 20,000 professional property management organizations and hundreds of thousands of individual landlords to bring their great inventory to renters," said Rosalind Bordo, Dwellsy's chief product officer and co-founder. "They've got the amazing homes and apartments that renters want, and Dwellsy is the platform that renters can use to find the best available rental, quickly and easily." Dwellsy's inventory represents the full range of rentals: homes and apartments, single-family rentals in small towns, and high-rise towers in major cities.
About Jonas Bordo:
Jonas Bordo is the CEO and co-founder of Dwellsy, the free residential rental marketplace that renters want and deserve. Prior to co-founding Dwellsy, Jonas was a senior executive at several leading real estate firms including Essex Property Trust and BentallGreenOak and was with the Boston Consulting Group after graduating with his MBA from the University of Chicago Booth School of Business.
About Rosalind Bordo:
Rosalind Bordo is the chief product officer and co-founder of Dwellsy, the free residential rental marketplace that renters want and deserve. She is a longstanding entrepreneur, founding and serving as CEO of three prior companies: Two Bright Lights, a two-sided marketplace in the wedding space; Six Corners Group, a business operations platform for creative businesses; and Rosalind Weddings, one of the nation's leading wedding photography studios. Rosalind has advised the James Beard Foundation on strategic, technical, and financial challenges; led finance, marketing, and technology for the Bay Area's Hidden Villa; and worked at Deloitte. She earned her MBA from Northwestern University's Kellogg School of Management.
Dwellsy is the renter's marketplace: a comprehensive residential home rentals marketplace based on the radical concept that true, organic search in a free ecosystem creates more value than the pay-to-play model embraced by all of the current rental listing services. Dwellsy has more than 14 million residential rental listings-more than any legacy classifieds site-as well as the most diverse set of listings, including single-family rentals, condos, and apartments. Dwellsy's entirely different approach to residential rental listings focuses on presenting houses and apartments based on features renters need and want, not based on how much landlords pay to show their listings. For more information, please visit our newsroom or find your next home at Dwellsy.com.
CEO and cofounder of Dwellsy