Room8 developed a roommates matching and apartment search mobile application. In the USA, 60 million of Millennials and Gen Z are regularly moving and looking for roommates or apartments, 20 million of them need to find roommates. They spend over 10 weeks on average searching for housing through multiple applications and sites. After the move, renters need an insurance contracted in a separate transaction. The insurance market for renters in the US is currently a USD 21 billion industry.
Room8 helps Millennials and Gen Z on their path to rental easing the selection of a housing.
The platform matches roommates and streamlines the rental experience. It accelerates the entire process of selecting, checking, signing and paying a rental agreement. Contacts with all involved stakeholders are integrated in the application.
In addition, Room8 aggregates data to offer most attractive insurance products, using AI and machine learning.
CEO: Jessica Chen
Headquarters: San Francisco, US
Initial investment date: October 2019
Site: room8.io
Our new portfolio company, ROOM8, raised initial funding of undisclosed amount. Backers included Storm Ventures, Avanta Ventures, Plug and Play Ventures and Alpana Ventures.
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