Cologne-founded long-term business apartment marketplace Homelike has raised $14 million in a funding round led by Spark Capital with the participation of existing investors Cherry Ventures, Lürssen and coparion. The company, which currently employs 85 people, will use the capital injection for further scaling.
Founded in 2015, Homelike is bringing the technology advancements from hotel booking platforms to the space of furnished apartments for business travellers. It currently allows to easily compare and book properties for 30 days and longer in more than 100 cities in Germany, Austria, Switzerland, and the UK.
“Homelike targets one of the fastest growing rental segments with a global market volume of $160 billion that is still mainly served offline by cumbersome processes,” said says Alex Finkelstein, Partner at Spark Capital. “We strongly believe that Homelike's technology platform and convenient user experience will play a significant role in changing the way corporations book long-term apartments.”
The platform, which lists some 45,000 apartments, has accommodated business travellers for more than 700,000 nights since its launch. It works with a network of landlords, offering them a back office platform to track bookings, invoices, rental agreements, and unit performance.
The German startup claims to have more than 15,000 corporate clients across the world, ranging from small startups to multinational corporations like Capgemini and Thoughtworks. For them, the platform works as a digital travel management solution with user management and travel policy configuration possibilities. It's also partnered with AXA to offer insurance for customers.