What is Bungalow?
Founded in 2017 by Andrew Collins and Justin McCarty, Bungalow operates as a specialized residential real estate platform designed to remove friction from the rental process. The company provides a comprehensive service that includes roommate matching, furnished common areas, and a seamless digital interface for rent and utility management. By partnering directly with homeowners, Bungalow offers residents access to desirable neighborhoods while providing property owners with a reliable, guaranteed income stream. This model has allowed the company to cultivate a thriving community of over 3,000 housemates across 16 markets, effectively positioning itself as a leader in the PropTech space.
How much funding has Bungalow raised?
Bungalow has raised a total of $171M across 4 funding rounds:
Series A
$14M
Debt
$50M
Series B
$32M
Series C
$75M
Series A (2018): $14M with participation from Cherubic Ventures, Atomic, UpHonest Capital, Founders Fund, Wing Venture Capital, and Khosla Ventures
Debt (2019): $50M, investors not publicly disclosed
Series B (2019): $32M supported by Cherubic Ventures, Atomic, Coatue, Gaingels, Nine Four Ventures, Maverick Ventures, Founders Fund, CaaS Ventures, and A-Rod Corp
Series C (2021): $75M featuring Deer Park Road, Founders Fund, Khosla Ventures, Atomic, and Coatue
Key Investors in Bungalow
Founders Fund
Founders Fund invests in the world's most important and valuable companies across all geographies, sectors and stages, pursuing a founder-friendly investment strategy.
Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies across a broad range of sectors.
Coatue
Coatue Management is an employee-owned hedge fund sponsor that invests in both public and private equity, focusing on high-growth technology and innovation.
What's next for Bungalow?
With the successful closure of its latest funding round, Bungalow is well-positioned to accelerate its operational scale and enhance its technological infrastructure. The company's strategic focus remains on deepening its penetration in existing markets while exploring new geographic opportunities. By leveraging its unique position at the intersection of real estate and community-building, Bungalow aims to further refine its digital-first experience, ensuring that it remains the preferred choice for mobile professionals seeking high-quality, hassle-free living arrangements. Future growth will likely center on optimizing property acquisition strategies and expanding the network of homeowners who benefit from the company's management expertise.
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