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Peer To Peer Room Sharing Startup "Roomi" Hit 1 million User With $11 Million In Funding

Peer To Peer Room Sharing Startup "Roomi" Hit 1 million User With $11 Million In Funding

Roomi, a peer-to-peer marketplace for finding roommates, has raised $11 million in a series A round of funding led by Atami Capital, with participation from Rosecliff Ventures, Townsquare Media, JXC Ventures, DCM, and Great Oaks Venture Capital.

Roomi had previously raised around $6 million in outside funding, and the company said that it plans to use this latest cash influx to expand its presence across the U.S and further afield.

In addition to its $11 million raise, Roomi is also opening an equity-based crowdfunding campaign via Republic, where they’re inviting anyone to buy shares, with a view toward raising another $1 million.

We decided to invest in Roomi because shared housing is a growing global trend and is becoming a lifestyle choice for Generation Z and Millennials,” explained Brian Epp, Atami Capital’s head of direct investments. “We believe Roomi is the clear market leader in peer-to-peer shared housing in NYC and we intend to support Roomi to expand further in the U.S. and globally.”

Roomi officially launched in 2015, and it managed to garner 100,000 downloads in its first year. As of today, the startup claims one million registered users and around 250,000 listed apartments on its platform.

The future of living is going to be shared living,” predicted Roomi CEO and founder Ajay Yadav. “Millennials aren’t buying homes. Gen Z-ers probably won’t be buying homes. Living with roommates isn’t just a trend — flexible living and shared housing is becoming the norm. People want access to commitment-free, immediate, verified shared housing options, and Roomi wants to lead the way by make renting with roommates safer and easier than ever before.”

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