- General
- February 8, 2019
- 6 minutes read
Jetty Raises $25 Million Series B Led By Khosla Ventures
Khosla Ventures partner and Opendoor executive chairman Keith Rabois Photo by Charles Eshelman/Getty Images for AOL Jetty, a New York…
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| Khosla Ventures partner and Opendoor executive chairman Keith Rabois
Photo by Charles Eshelman/Getty Images for AOL
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Jetty, a New York based company that “empowers everyday renters with tools to access rental homes”, has announced a $25 million Series D round led by Khosla Ventures partner Keith Rabois, who is joining its board as part of the investment. Existing investors, including Peter Thiel’s Valar Ventures and Ribbit Capital are also participating in this round that pushes the total raised by Jetty to more than $40 million.
Jetty says it’ll make use of this funding to expand its real estate distribution footprint and make further investments in technology and personnel. The company provides access to more than 500,000 rental units in the U.S. for its members, who it claims have saved an average of $1,350 on move-in costs with its “security deposit replacement product”.
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| Jetty co-founder and CEO Mike Rudoy
image : Jetty
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“The process of signing a lease is full of barriers: It’s time consuming and can be prohibitively expensive for everyday renters to access their desired home,” Jetty co-founder and CEO Mike Rudoy said in a press release. “Jetty is challenging the status-quo by empowering the everyday renter with tools to lower move-in costs, while simultaneously giving property managers a way to streamline operations and mitigate risk. It’s truly a model where everyone wins.”
This investment marks an addition to Khosla Ventures partner and Opendoor executive chairman Keith Rabois’ notable bets, which include HelloSign (recently acquired by Dropbox), Affirm, Stripe, Thoughtspot, Faire, Palantir, Lyft, Airbnb, Quora, Eventbrite, Yammer and YouTube. Rabois kicked off his career as a PayPal executive, with subsequent executive roles at LinkedIn and Square where he served as chief operating officer.
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| Khosla Ventures founder Vinod Khosla
image : JD Lasica on Flickr
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A member of the “PayPal Mafia” alongside persons like Tesla CEO Elon Musk, Palantir co-founder Peter Thiel, Yelp CEO Jeremy Stoppelman, Affirm’s Max Levchin, Yammer’s David Sacks, LinkedIn’s Reid Hoffman, 500 Startups’ Dave McClure and YouTube’s Chad Hurley and Steve Chen, Rabois is also known for guiding Yelp and Xoom to successful IPOs, a route expectant of new members, by names of Slack and Postmates, which just recently confidentially filed for a public offering.
