Milwaukee-based Frontdesk, a short-term apartment rental company, announced this week the completion of a $13 million Series B funding round. The round was led by San Francisco-based Stormbreaker Ventures. Frontdesk has raised a total of $22 million in equity financing since being founded in 2017. Jesse DePinto “As the world becomes
Milwaukee-based Frontdesk, a short-term apartment rental company, announced this week the completion of a $13 million Series B funding round. The round was led by San Francisco-based Stormbreaker Ventures. Frontdesk has raised a total of $22 million in equity financing since being founded in 2017.
[caption id="attachment_549482" align="alignleft" width="300"] Jesse DePinto[/caption]
“As the world becomes more digital and more flexible, the need for our product has never been greater,” said Jesse DePinto, Frontdesk CEO. “We are grateful to be joined by partners who support our vision to power the future of dynamic living and meet the contemporary needs of living, working, and traveling. As we look towards the future, we are now even more excited about the generational opportunity ahead, and Frontdesk’s leadership position within our category.”
Frontdesk’s recently completed funding round will support the company’s continued growth. Frontdesk is operating in 30 U.S. markets and has more than 1,000 units. The company continues to acquire new properties to add to its portfolio and plans to use the capital to expand into existing markets and buildings.
Most recently, Frontdesk announced the acquisition of several new properties from a shuttered competitor in San Francisco.
“Stormbreaker has been a longtime believer in Frontdesk’s capital-efficient approach to transforming the way we live, work, and explore new communities,” said Mark Freed, Frontdesk board member and partner at Stormbreaker Ventures. “Supported by strong leadership and best-in-class technology, Frontdesk has built a sustainable, scalable business, and we are thrilled to continue being a part of their growth.”
