Company Name : Grabhouse
Funding Amount : $10mn
Investor(s) Sequoia Capital, Kalaari Capital.
Funding Round : Series B
Bangalore based Grabhouse, an online rental start-up has raised Series B funding of $10 million (INR 65 crores) from Sequoia Capital & Kalaari Capital.
Driven by technology, this start-up plans to focus on three key growth areas: strengthening presence in existing 11 cities, building technology capability and launch of new verticals. The company’s core objective is not just using smart technology but using technology in a smart way to resolve rental issues.
Commenting on the funding, Sequoia Capital’s G V Ravishankar said, “We believe the rentals market is a large and relatively under serviced market. The Grabhouse marketplace model connecting seekers directly to house owners and allowing them to transact without a broker is a superior and more efficient solution. This has been validated by the terrific response the company has received from the market leading to a leadership position in the broker free rentals and shared accommodation space in a short period of time.”
Today, with 300+ employees Grabhouse is a steadily growing community that receives over 4.5 million traffic monthly and carries out 200+ transactions per day. With technology at its core, the company’s in-house tech team churns tonnes of data to ensure customized options and lists close to 2,000 new properties daily.