Kasa Living raises $70 million
Real estate technology startup Kasa Living has raised $70 million in Series C funding led by Citi Ventures and FirstMark Capital, with participation from New York Life Ventures, Fireside Investments, RET Ventures, Zigg Capital, and Ribbit Capital.
Founded in 2016, the San Francisco-based startup offers owners of multifamily, single-family, and boutique hospitality properties an operating system that transforms their underutilized real estate into “stylishly furnished, professionally managed” units that cater to business and leisure travelers.
“Kasa’s proprietary operating system allows its real estate partners to adapt to changing resident and guest preferences while optimizing for profitability, safety, and visibility across multiple asset types. We believe that Citi can be a valuable partner to Kasa and its real estate owners as they continue to expand their property footprint.” – Jeff Flynn, head of PropTech Investing at Citi Ventures.
“We stand at a watershed moment in the evolution of the hospitality industry. Owners are grappling with rising costs, while consumers crave a seamless, digital-first travel experience in desired locations. Kasa is bridging this gap, revolutionizing the way owners and guests alike think about accommodations. Our model isn’t just an alternative; it’s the future.” – Roman Pedan, founder & CEO of Kasa.
“The consumer trends behind furnished apartment rentals are very strong. The industry is at a turning point as apartment owners increasingly seek ways to harness this demand. We have been extremely impressed by Kasa’s platform and are proud to work alongside them in some of our communities. We believe Kasa has become an industry standard and are proud to have them as our recommended supplier partners for the sector.” – Andrew Livingstone, COO of Greystar.
“In my three decades in the hospitality industry, I’ve seen countless innovations come and go, but Kasa’s truly unique ability to empower smaller hotel owners to excel against industry giants is an enduring game changer for the future of hospitality. I have never seen hotels in high cost cities like New York or San Francisco operate at the margins and guest satisfaction scores that Kasa-powered properties deliver.” – Jonathan Langer, founding partner and managing member of Fireside Investments.