Belong Funding, Investors & Competitors

Belong has raised $105M across 4 funding rounds, most recently a $50M Series C in May 2022.

Last Belong funding round

$50M

Series C · May 2022

Cumulative funding Belong raised

$105M

across 4 funding rounds

Key investors in Belong

  • Andreessen Horowitz
  • Battery Ventures
  • Notable Capital
  • Fifth Wall
  • A*
  • Westcap
  • J17 Capital
  • Manish Chandra

Belong Overview

About Belong

Belong is a San Francisco-based proptech company managing single-family home rentals in 15 U.S. markets. Its AI-driven platform handles leasing, maintenance, renovations, and resident services for over 4,000 properties via belonghome.com.


Founded

2019

HQ

United StatesMiami, FL

Status

Privately held

Customer focus

B2B

Revenue model

Services

Belong Funding History

Belong has raised a total of $105M across 4 funding rounds.

Belong's first fundraising round was a $5M seed round in May 2018. The most recent completed round was a $50M Series C in May 2022.

Belong funding rounds

Belong funding rounds
DateStageInvestorsRaisedDeal Summary
May 2022Series CFifth Wall (lead); Battery Ventures; Andreessen Horowitz; Notable Capital$50MBelong is a San Mateo, California-based proptech startup offering a full-stack rental property management platform that serves homeowners, renters, and provides services to facilitate renters saving toward homeownership. It manages single-family rental homes with in-house maintenance teams, guaranteed rent tools, financial management for investments, and returns 3% of rent payments to renters for down payment savings. Revenue streams include 8% of rent from homeowners for end-to-end management, 6% share of rent when sourcing residents, financing for repairs/maintenance, and real estate brokerage services. On May 19, 2022, Belong raised $50 million in a Series C equity round led by Fifth Wall, with participation from Andreessen Horowitz, Battery Ventures, Notable Capital (formerly GGV Capital), and J17 Capital, alongside $30 million in debt, for a total of $80 million. This preempted round brought Belong's total equity funding to approximately $95-130 million across five rounds, including a prior $40 million Series B led by Battery Ventures, $10 million Series A led by GGV Capital, and $5 million seed led by Andreessen Horowitz. The funds were earmarked for expanding offerings, entering new markets, hiring, and product development. Belong reported nearly 3x revenue growth in 2021, though specific figures were not disclosed. The company differentiates through its people-first, full-stack approach targeting retail single-family residential owners and renters, with in-house operations in each market. Fifth Wall Partner Dan Wenhold highlighted Belong's model as raising the bar for home rentals and ownership. The round aligns with Fifth Wall's focus on proptech, as the firm closed significant funds in 2022 including an $866 million Real Estate Tech Fund III. Belong positions itself to make landlord-tenant dynamics obsolete by empowering residents toward homeownership and enabling homeowners to achieve financial freedom through stress-free rental management.
Mar 2021Series BBattery Ventures (lead)$40MBelong is a rental property marketplace and management platform that enables individual homeowners to rent out their properties stress-free, handling management, tenant matching, maintenance, and financing. It operates in markets like the Bay Area, Miami, and Seattle, with an engineering team in Latin America, hosting 7,000 renters and thousands of homeowners as of the later funding announcement. Revenue streams include 8% management fees from homeowners, 6% share of rent from renters, financing for repairs, and real estate brokerage services. Belong announced its $40M Series B round led by Roger Lee at Battery Ventures around early 2021 or 2022, part of a cumulative equity raise including a $5M Series Seed led by a16z, $10M Series A led by GGV Capital, reaching nearly $100M total equity by the subsequent round. Battery Ventures participated in follow-on funding. Subsequent funding included $80M ($50M equity led by Fifth Wall and $30M debt) to expand offerings, enter new markets, hire, and develop products, with prior leads a16z, GGV, and Battery also joining. Investors praised Belong's people-first, full-stack property management model with in-house operations and service professionals.
Jun 2019Series ANotable Capital (lead); Manish Chandra; Larry Summers; Brett Rochkind; Westcap; A*$10M-
May 2018SeedAndreessen Horowitz (lead); J17 Capital$5MBelong provides property management services for homeowners and rental experiences for residents, including guaranteed rent, maintenance, and community engagement via a mobile app and financial products. The company was founded in 2018 and is headquartered in Miami, Florida. Belong has raised a total of $130M over 5 funding rounds, with investors including Andreessen Horowitz, J17 Capital, Fifth Wall, Battery Ventures, and Notable Capital. A seed round occurred on 4/26/2018, matching the approximate date and lead investor Andreessen Horowitz.

Who has invested in Belong?

10 investors have backed Belong across its funding rounds, including Andreessen Horowitz, Battery Ventures, Notable Capital, Fifth Wall, A* and Westcap.

Lead investors include Fifth Wall, Battery Ventures, Notable Capital and Andreessen Horowitz.


Belong Investors

Investors in Belong by funding rounds participated
InvestorHQRoundsRoleFirst check
Battery VenturesUnited StatesBoston, MA2LeadMar 2021
Andreessen HorowitzUnited StatesSan Francisco, CA2LeadMay 2018
Notable CapitalUnited StatesSan Francisco, CA2LeadJun 2019
J17 CapitalCanadaToronto1ParticipantMay 2018
Manish ChandraUnited StatesSan Francisco, CA1ParticipantJun 2019
Larry SummersUnited StatesBoston, MA1ParticipantJun 2019
Fifth WallUnited StatesLos Angeles, CA1LeadMay 2022
Brett RochkindUnited StatesSan Francisco, CA1ParticipantJun 2019

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Belong Competitors

Belong competitors include listed companies like Marriott and Vingroup, and private ones like Gruppo Barletta, Keyton, Mews and Danke Apartment.

Public and private companies comparable to Belong
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Gruppo BarlettaItalyRomePrivate--$1.4B-
KeytonAustraliaSydneyPrivate--$361M-
MewsCzech RepublicPraguePrivate$100M-$2.5B25.0x
Danke ApartmentChinaBeijingPrivate--$2B-
MarriottUnited StatesUnited StatesPublicly listed$26B$4.6B$87B3.8x
VingroupVietnamVietnamPublicly listed$13B$3.1B$70B5.0x

Belong Public Comps

Belong is still privately-owned, but its public comps include Marriott, Vingroup, Hilton, Samsung C&T, Sun Hung Kai Properties, D.R. Horton, Goodman Group, Oriental Land, Emaar Properties and Mitsubishi Estate.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Marriott$26B$4.6B4.0x3.8x22.6x17.9x
Vingroup$13B$3.1B6.2x5.0x25.8x37.1x
Hilton$12B$2.9B6.7x6.4x28.3x20.4x
Samsung C&T$30B$3.8B1.5x1.4x11.9x13.2x
Sun Hung Kai Properties$10B$4B4.8x4.2x12.4x12.4x
D.R. Horton$34B$4.7B1.3x1.4x9.5x10.4x
Goodman Group$1.8B-21.7x16.9x-20.0x
Oriental Land$4.5B$1.5B6.8x6.7x20.3x20.1x

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Common questions about Belong

When was Belong founded?Belong was founded in 2019.
Where is Belong headquartered?Belong is headquartered in Miami, FL, United States.
Is Belong publicly listed?No, Belong is a private, VC-backed company.
How much funding has Belong raised?Belong has raised $105M across 4 funding rounds.
What was Belong's last funding round?Belong's last funding round was a $50M Series C in May 2022, led by Fifth Wall.
Who are Belong's investors?Belong's investors include Battery Ventures, Andreessen Horowitz, Notable Capital, J17 Capital, Manish Chandra, Larry Summers, Fifth Wall, Brett Rochkind, Westcap and A*.
Which companies are comparable to Belong?Companies comparable to Belong include Gruppo Barletta, Keyton, Mews, Danke Apartment, Marriott and Vingroup.

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