Roomi hits 1 million users and raises $11 million to grow its shared housing ...
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...
Makes it safer and easier to search for shared housing
1M app installations and over 230K apartments listed as of Sept 2017
Roomi acquired room.me in 2016 and The Room Ring in 2017
There are 32M people living with roommates with about 90M moves per year
Grew by 14x in 2016 and successfully raised over $16M from several noted VCs and AngelList syndications
Roomi has more than 3x more listings for 1+ month sublets in NYC than Airbnb
Led by an immigrant repeat founder named among 2017 Forbes’ “30 under 30”
Millennials are moving more than ever — on average a Roomi user is only staying in one place for 4.3 months. With rising rent prices, looming student debts and a preference for flexible, nomadic lifestyles, shared housing is becoming the new normal.
But the process of searching for a place and a person to live with is complicated and outdated. (Did we mention it’s also unsafe??) Sites like Craigslist do not verify the apartment listings or vet the users and there’s often a risk of a scam or expensive, hidden broker fees.
Multiple verification features like background check, ID verifications and Facebook, LinkedIn and Instagram integration
Secure in-app messaging to instantly and safely connect users
Provides all of the details needed to make an informed decision on where to live and who to live with
Ability to instantly book online and set up automatic, online rent payments
Browse individualized search results based on income, location and budget
Creates individualized results using income, location, and budget differences
Proprietary algorithms help users save time and money while searching for an apartment and roommate
Early revenue streams proven highly scalable
Roomi's revenue model is directly related to move-ins. If booked online, Roomi collects a fee between 1-10%. Value add services like background checks, ID verifications, and roommate agreements are included if booked online and otherwise available to purchase separately. Roomi also has partnerships with landlords/ property owners in which they receive a fee every time Roomi helps current tenants find a roommate that leads to a lease renewal.
ProjectionsBased on current growth trajectory and market estimations, Roomi aims to reach over 15,000 move-ins by the end of 2017 and 45,000 move-ins by the end of 2018. At that rate, Roomi’s projected revenues for 2017 and 2018 should be around $750,000 and $5 million. *Please note these projected figures are entirely speculative and might be inaccurate.
USE OF PROCEEDS:
Capital raised privately and via Republic will generally go towards operating expenses, staffing, marketing, customer acquisition and other undertakings that the team believes may be helpful for revenue and growth.
Roomi is already even with Craigslist for supply of rooms in NYC and the market itself is growing rapidly. There are about 90 million moves a year and the percent of adults living with roommates is steadily increasing. This market has largely been ignored by the big players, like Airbnb and Craigslist, leaving Roomi well positioned to dominate this space.
Ajay built his first company when he was 17 years old and scaled it to 200 clients and 35 employees while attending college full-time in NYC. He came up with the idea for Roomi shortly after moving to the US. He wrote the code for Roomi himself until he could afford to hire employees.
A Forbes 30 under 30, Ajay is proud of his humble immigrant background and believes entrepreneurship can and should be more inclusive. Roomi is hosting this crowdfunding campaign because of Ajay’s passion to empower anyone to invest in Roomi’s future and allow YOU to be part of our journey towards market leadership.
Wish you had invested in the early rounds of Airbnb or Tinder? Join Roomi and our venture investors to redefine shared housing forever. Thank you for your support!
Thank you note from our CEO + Shout out on our website + Free background check when you list your open room
"Investor" badge on your Roomi profile + Thank you shout out on Twitter by our CEO + All previous perks
Invite to our new rent payment feature in beta, let Roomi process your first rent payment for free (rack up those credit card points!) + All previous perks
Roomi swag bag (t-shirt, canvas bag, stickers, other surprises) + Invites to test all future beta products + All previous perks
Unlimited access to all future Roomi community events (aka 'The R Collective') + All previous perks
Featured on Roomi homepage + Stop by the office and tour Roomi HQ + All previous perks
Flight and accommodation to meet the team and tour Roomi HQ (US based investors only) + All previous perks.
Roomi is available on Web, Android and iOS (including iPad).
Las Vegas, NV
Los Angeles, CA
New York, NY
San Diego, CA
San Francisco Bay Area, CA
Vancouver, British Columbia, Canada
Toronto, Ontario, CanadaIndia:
New Delhi, India
Yes, Roomi is completely free to use. It’s free to list your room, message potential roommates or search on Roomi. We offer paid options for better exposure of your room, but listing your room is completely free!
Roomi is a peer-to-peer marketplace, for people looking for a room, renting out a room or looking to sublet a room.
You’re required to create a profile in order to list your room or message people who list their room. Roomi is completely free to use.
If you're listing your room - Signup, list your room and chat with potential roommates.
you're looking for a room - Signup, search for your city, browse open
rooms and message anyone with a room that has the right budget and
location for you.
No. Your safety and privacy are our number one concern, and we only show an approximate location on your room listing.
I am intrigued by this investment opportunity. I see potential for this thing to be applied immensely in our daily lives.Chandra InnugantiInvested 1 day ago
Sounds like a neat company that will provide a great service.Bill BunnellInvested 1 day ago
I was late to AirBnb. Maybe I can be "on time" with Roomi.John ReillyInvested 2 days ago
It's an underserved problem that a lot of people are having. Their approach makes sense and it's easy to monetize.Phil HeskethInvested 2 days ago
You have to stay ahead of what is happening today and look out 2-3yrs plusLawrence AltmanInvested 3 days ago
I trust the founder and seen his hard workThikshan ArulampalamInvested 3 days ago
I've worked to scale real estate tech companies as an advisor / operator as well as in multifamily investing as an investor and I believe in the business modelDavid MerinInvested 4 days ago
helping people making them live a better and easy life is my join. i also find pleasure in doing business. that is why i investedSharon TamutanInvested 4 days ago
Used the app and found my roommates through it. Had a brief chat with the CEO when I was a tech investment banker and was sold on the business model and how it can be effectively monetized in a number of different waysAjay PalapartyInvested 4 days ago
I invested because I believe this is a great idea that fills a real need in today's economy.Magne LandInvested 5 days ago
I believe in the product or service the investment represents. I also hope to earn a profit from the investment.sharon ThompsonInvested 6 days ago
Think it’s a great ideaGlenn SargentInvested 6 days ago
referral from Green Chip Stocksshane burgessInvested 7 days ago
It's going to take over the other apps such as AirBnb, and that's gonna be a huge success for Roomi once that happens.Gurpreet SidhuInvested 7 days ago
I think this will grow fast! I invested 100.00.James E. HowleInvested 7 days ago
850k users means growthTerrence BattleInvested 7 days ago
Increasing population and therefore demand bodes well for this opportunity.Ron RushInvested 7 days ago
I believe housing trends will continue and wanted to share in the opportunity to be part of this valuable service.Robert PeteschInvested 8 days ago
I invested because it's a chance to get in on the ground floor with a minimal out lay of cash.John StricklandInvested 8 days ago
Looks like a growing need, and a way to fill it. Having been a landlord, too, I can see the benefit for rental property owners. Wish this was available when I was a landlord!Gary GengozianInvested 8 days ago
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