Blueground

Blueground[2] is a real estate tech company that offers furnished apartments to vetted guests for stays of 30 days or longer.

Blueground
Private
IndustryHospitality, Property Management
Founded2013
HeadquartersNew York
Area served
International
Key people
Alexandros Chatzieleftheriou (Co-founder & CEO)[1]
Websitetheblueground.com

The company leases from property owners and management companies such as Related Rentals[3], Stonehenge[4], UDR[5] and Pinnacle Living[6]. Blueground typically leases numerous apartments before they hit the market, with a goal of holding them for many years, which they claim offers landlords steady cash flow.

Headquartered in New York, Blueground currently leases and manages properties throughout New York, Chicago, Boston, Seattle, Los Angeles, Dubai, Athens, Istanbul, San Francisco, London, Paris and Washington, DC[7].[8][9]

History

Blueground was founded in Athens in 2013 by Alexandros Chatzieleftheriou, Penny Papakonstantinou, Andreas Nezeritis and Alexis Maragkos.[10][9] As of 2020, Blueground manages more than 3600 properties worldwide and has more than 500 employees.[11]

Investments

In 2013, Blueground announced raising approximately $7.5 million in funding from various angel investors, the National Bank of Greece, and investment firms.[12][13]

In 2017, Blueground announced a round totaling $5.8 million from venture capital firms VentureFriends, Endeavor Catalyst, and Jabbar Internet Group.[14][12]

On March 5th, 2019, Blueground announced their funding now tops $28 million to date and added NYC-based entrepreneur Kevin Ryan to their board of directors. Blueground plans to use funds from the latest round for additional hiring and to help the company reach its goal of growing its portfolio to 50,000 apartments.[15]

On October 23rd, 2019, Blueground announced the closing of a $50M Series B round. The round was co-led by two prominent investment firms: WestCap Investment Partners and Prime Ventures. With this Series B round, up to date Blueground has raised a total of $78M in equity funding.[16]

Awards
  • Hellenic Entrepreneurship Award (2016)[17]

References
  1. "blueground". Crunchbase.
  2. "Official website".
  3. "Related Rentals".
  4. "Stonehenge".
  5. "UDR".
  6. "Pinnacle Living".
  7. "Blueground raises $20 million for flexible apartment rentals". TechCrunch. Retrieved 2019-03-05.
  8. O'Hear, Steve (March 19, 2018). "VentureFriends, the Athens-based VC, outs new ˆ45M fund". TechCrunch. Retrieved 2018-06-29.
  9. Nair, Deepthi (April 25, 2017). "Breaking new ground for corporate travellers". Khaleej Times. Retrieved 2018-06-29.
  10. WORK, Muhammad Riaz Usman
    MAKING IT. "A hotel room where you feel at home". www.khaleejtimes.com. Retrieved 2018-06-29.
  11. Barbanel, Josh (2018-06-26). "Demand Rises for Furnished Rental Apartments". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-06-29.
  12. Editor, Manoj Nair, Associate (2017-04-12). "Creating short-stays in Dubai beyond hotels and Airbnb". GulfNews. Retrieved 2018-06-29.CS1 maint: extra text: authors list (link)
  13. "UAE Business: 150 blueground homes ready for occupation in Dubai". www.gdnonline.com. Retrieved 2018-06-29.
  14. Sertin, Carla (2017-04-13). "Blueground Wants To Be The Airbnb Of Corporate Travel - Forbes Middle East". Forbes Middle East. Retrieved 2018-06-29.
  15. "Blueground raises $20 million for flexible apartment rentals". TechCrunch. Retrieved 2019-03-05.
  16. {{Cite news|url=https://news.crunchbase.com/news/flexible-apartment-rental-startup-blueground-raises-50m-series-b/
  17. "Greece's Blueground Wins 2016 Hellenic Entrepreneurship Award; Plans Turkey and UAE Expansions". Endeavor. 6 June 2016. Retrieved 5 August 2018.
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