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- Blueground
Blueground Revenue, Valuation, Funding & Investors
Blueground is valued at $1B as of March 2024.
Last Blueground valuation
$1B
Series D · Mar 2024
Last Blueground funding round
$45M
Series D · Mar 2024
Blueground revenue
$140M
Series C · Sep 2021
Key investors in Blueground
VentureFriends
Westcap
Prime Ventures
Endeavor Catalyst
Jabbar Internet Group
Apostolos Apostolakis
About Blueground
Blueground is an Athens-headquartered proptech company offering fully furnished, flexible apartments for mid-to-long-term stays. Available in over 40 cities including New York, London, and Paris, its properties cater to digital nomads, business travelers, and relocating professionals. Blueground provides weekly cleaning, utilities, and 24/7 concierge support with month-to-month leasing.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$140M (Sep 2021)
Valuation
$1B (Mar 2024)
Blueground Valuation
Blueground is currently valued at $1B, based on its Series D in March 2024.
The $45M round was led by Susquehanna Private Equity Investments, with participation from Westcap.
Blueground's valuation has grown 1.3x from $750M at its Series C in September 2021 to $1B in March 2024, across 2 priced rounds.
Blueground valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2024 | Series D | $1B | - |
| Sep 2021 | Series C | $750M | 5.4x |
Blueground Revenue
Blueground's latest recorded revenue is $140M, as of its Series C in September 2021. At a $750M valuation, that implies a 5.4x revenue multiple.
Blueground revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $140M | $750M | 5.4x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Blueground Funding History
Blueground has raised a total of $243M across 5 funding rounds.
Blueground's first fundraising round was a $2M seed round in January 2016. The most recent completed round was a $45M Series D in March 2024.
Blueground funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2024 | Series D | Susquehanna Private Equity Investments (lead); Westcap | $45M | $1B | Blueground is the largest global operator of furnished, flexible rentals for 30+ day stays, managing a portfolio of 15,000 units across 32 cities worldwide. The company provides move-in-ready apartments for leisure and business travelers, emphasizing consistent and convenient housing options amid rising demand for flexible living. Founded in 2013 in Greece and now based in New York, Blueground has expanded through acquisitions like Nestpick and Travelers Haven, and recently launched a Partner Network in Q3 2023 that generated about $2 million in booking value to date. On March 28, 2024, Blueground raised $45 million in Series D equity funding led by Susquehanna Private Equity Investments, with participation from WestCap and others, alongside a new debt facility from Barclays (with Morgan Stanley, Deutsche Bank, and HSBC) that replaced and upsized its prior $40 million Silicon Valley Bank facility. The capital supports technology development, strategic initiatives, partner network growth, franchises, and integration of acquired companies. The post-money valuation was not publicly disclosed, though CEO Alex Chatzieleftheriou confirmed it exceeded the $750 million from the September 2021 Series C ($180 million total, including $140 million equity). Blueground reported $560 million in revenue for 2023, up 70% from $300 million in 2022, with gross margins around 35% after landlord lease payments. The company anticipates positive cash flow in 2024 and projects reaching $1 billion in revenue within two years. Investors highlighted Blueground's profitability in the flexible apartment market and improving financial performance, positioning it as a leader against competitors like Sonder. Susquehanna's Dean Carlson praised Blueground's global leadership and operational profitability, while CEO Chatzieleftheriou noted the round's validation of the company's financial strength and vision for scalable flexible living solutions. |
| Sep 2021 | Series C | Westcap (lead); VentureFriends; Prime Ventures; Geolo Capital | $140M | $750M | Blueground, a New York-based proptech startup founded in Greece in 2013, provides furnished short-term apartment rentals for minimum one-month stays, averaging 4.5 months, operating over 5,000 apartments across 15 cities including New York, Los Angeles, San Francisco, Dubai, Istanbul, Paris, London, Vienna, and Athens as of September 2021. The company raised $140 million in Series C equity funding led by WestCap Group, with participation from Geolo Capital (John Pritzker’s family office), VentureFriends, and Prime Ventures, alongside a $40 million debt facility from Silicon Valley Bank, achieving a post-money valuation of $750 million. This round followed a $50 million Series B in 2019 from Prime Ventures and WestCap. Proceeds were earmarked for aggressive expansion to 50 cities by 2025, with immediate launches planned in Miami, Madrid, Zurich, and Berlin, targeting 30,000 units by 2025 amid post-pandemic recovery in flexible living demand driven by remote work. CEO Alex Chatzieleftheriou noted adjustments during the pandemic, including lowered rates, inter-city mobility incentives, and recovery of global occupancy from 88% to 94%, positioning Blueground to capitalize on delayed return-to-office trends. The company partners with landlords like Related Companies, AvalonBay Communities, and Equity Residential via leases or revenue-sharing. Financially, Blueground projected 40% revenue growth over the 12 months through December 2021 to $140 million, with 85% growth in calendar 2022 to around $260 million. Geolo Capital's Tom Gottlieb joined the board, and investors highlighted the firm's unique positioning in the evolving real estate flexibility market. This funding marked a record valuation for a Greek-founded tech company, supporting hyper-growth mode. |
| Oct 2019 | Series B | Prime Ventures (lead); Westcap (lead) | $50M | - | Blueground is a proptech company founded in Athens, Greece, in 2013, offering tech-powered furnished apartments for medium- to long-term stays (one month to a year or longer) in vibrant neighborhoods worldwide. It manages properties by partnering with landlords and property companies, handling furnishing, cleaning, wellness services, grocery delivery, and 24/7 support. At the time of the October 23, 2019, Series B round, Blueground operated a portfolio of over 2,800 apartments across nine cities. The $50 million Series B round was co-led by WestCap Investment Partners (founded by former Blackstone and Airbnb CFO Laurence Tosi) and Prime Ventures, bringing total equity funding to $78 million. Previous rounds included seed and Series A investments from VentureFriends, Endeavor Catalyst, Jabbar Internet Group, and AlleyCorp. WestCap partner Charlie Young joined the board. Funds from the Series B were allocated to global expansion (launching in London, Paris, and Seattle that year), enhancing proprietary technology, product design, and guest experience, with a goal of reaching over 50 cities by 2023. The company emphasized capital efficiency and disciplined growth in the competitive flexible-stay rental market alongside players like Airbnb, Sonder, and Lyric. Blueground later headquartered in New York City, grew to over 450 employees, and expanded to 4,500+ apartments in 15 cities by 2021, with subsequent rounds including a $45 million Series D in March 2024. |
| Apr 2017 | Series A | VentureFriends (lead); Jabbar Internet Group; Kevin Ryan; Endeavor Catalyst | $6M | - | Blueground is a New York-based tech-equipped apartment rental company founded in 2013 that operates furnished flexible rental units globally. The company raised €5.5 million in Series A funding in April 2017, led by VentureFriends with participation from Endeavor Catalyst, Jabbar Internet Group, and entrepreneur Kevin Ryan, who joined the board. At the time of the Series A round, Blueground operated 1,800 furnished apartment listings across nine cities (including New York, San Francisco, Los Angeles, Boston, Washington D.C., Chicago, Dubai, Istanbul, and Athens) and employed 280 staff. The company targeted expansion to leasing 50,000 apartments globally by 2023. Post-money valuation for this Series A round was not publicly disclosed. Blueground later raised $180 million in Series C funding in September 2021 at a disclosed valuation of $750–850 million, followed by a $45 million Series D in March 2024 led by Susquehanna Private Equity Investments. By 2024, the company had expanded to managing 15,000 units in 32 cities across 17 countries, serving over 4,000 businesses including Fortune 500 companies. |
| Jan 2016 | Seed | VentureFriends; Apostolos Apostolakis; L-Stone Capital; National Bank of Greece; NBG Business Seeds | $2M | - | - |
Who has invested in Blueground?
12 investors have backed Blueground across its funding rounds, including VentureFriends, Westcap, Prime Ventures, Endeavor Catalyst, Jabbar Internet Group and Apostolos Apostolakis.
Lead investors include Susquehanna Private Equity Investments, Westcap, Prime Ventures and VentureFriends.
Blueground Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jan 2016 | ||
| 3 | Lead | Oct 2019 | ||
| 2 | Lead | Oct 2019 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 12 Blueground investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Blueground
Blueground has acquired 3 companies to date.
Last acquisition by Blueground was on May 30th 2023. Blueground acquired Nestpick for undisclosed valuation.
Latest Acquisitions by Blueground
| Description | Nestpick is a Berlin-headquartered online platform connecting users with monthly furnished apartments across Europe and beyond. The service facilitates short- to medium-term rentals in over 130 cities including London, Berlin, Madrid, and New York by partnering with property owners and managers to list verified accommodations. | Travelers Haven is a Denver-headquartered provider of furnished corporate housing across major U.S. cities including Atlanta, Boston, and San Francisco. It manages extended-stay apartments, condos, and homes with utilities, housekeeping, and maintenance, delivering 43 percent savings over hotels. Services encompass nationwide sourcing, lease negotiations, and relocation logistics for Fortune 500 clients in tech and energy sectors. | Tabas is a property management firm offering furnished apartment rentals in Mexico City. Founded in 2015, it manages 1,500 units equipped with smart locks from August and high-speed fiber internet, targeting corporate clients from firms like Google and IBM. Services include interior design consultations and short-term leases from 30 days, with 24/7 concierge support. |
| HQ Country | |||
| HQ City | New York City, NY | Denver, CO | São Paulo |
| Deal Date | 30 May 2023 | 16 Feb 2023 | 17 Nov 2022 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Blueground acquisitions and their M&A valuation multiples. Start Free Trial | |||
Investments by Blueground
Blueground has invested in 1 company to date.
Latest investment by Blueground was on January 19th 2022. Blueground invested in Tabas in their $7M Series A round.
Latest Investments by Blueground
| Description | Tabas is a property management firm offering furnished apartment rentals in Mexico City. Founded in 2015, it manages 1,500 units equipped with smart locks from August and high-speed fiber internet, targeting corporate clients from firms like Google and IBM. Services include interior design consultations and short-term leases from 30 days, with 24/7 concierge support. |
| HQ Country | |
| HQ City | São Paulo |
| Deal Date | 19 Jan 2022 |
| Round | Series A |
| Raised | $7M |
| Investors | VentureFriends; Guilherme Weege |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Blueground investments and their VC round multiples. Start Free Trial | |
Blueground Competitors
Blueground competitors include listed companies like eXp World Holdings and Real Brokerage, and private ones like Mofang Gongyu, Habi, NoBroker and Orchard.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | $65M | - | $1B | 15.4x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $4.8B | ($11M) | $650M | 0.1x | ||
| Publicly listed | $2B | ($6M) | $638M | 0.2x |
Blueground Public Comps
Blueground is still privately-owned, but its public comps include Wework India Management, Upbound, Summit Real Estate Group, Plazza, Smartgroup Corp, Alliances Developpement, Suzhou New District, Mainstreet Equity, GAG Immobilien and Morguard.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $254M | $165M | 6.0x | 5.4x | 9.3x | 8.3x | |||
| $4.7B | $1.7B | 0.6x | 0.6x | 1.5x | 5.2x | |||
| $291M | $245M | 8.5x | - | 10.2x | - | |||
| $49M | - | 31.1x | 30.3x | - | - | |||
| $233M | $96M | 4.0x | 3.7x | 9.6x | 8.9x | |||
| $257M | $61M | 4.1x | 4.0x | 17.2x | 15.9x | |||
| $816M | $180M | 10.3x | 10.5x | 46.6x | 1330.1x | |||
| $198M | - | 11.6x | 11.0x | - | 16.4x | |||
This data is available for Pro users. Sign up to see all Blueground competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blueground
| When was Blueground founded? | Blueground was founded in 2013. |
| Where is Blueground headquartered? | Blueground is headquartered in New York City, NY, United States. |
| Is Blueground publicly listed? | No, Blueground is a private, VC-backed company. |
| What is Blueground's valuation? | Blueground was last valued at $1B in its Series D in March 2024. |
| How much funding has Blueground raised? | Blueground has raised $243M across 5 funding rounds. |
| What was Blueground's last funding round? | Blueground's last funding round was a $45M Series D in March 2024, led by Susquehanna Private Equity Investments. |
| Who are Blueground's investors? | Blueground's investors include VentureFriends, Westcap, Prime Ventures, Jabbar Internet Group, Kevin Ryan, Apostolos Apostolakis, Endeavor Catalyst, L-Stone Capital, National Bank of Greece, Geolo Capital and 2 others. |
| What is Blueground's revenue? | Blueground's latest recorded revenue is $140M (September 2021). |
| What is Blueground's revenue multiple? | Blueground's latest valuation implies a 5.4x revenue multiple ($750M valuation on $140M of revenue). |
| Which companies are comparable to Blueground? | Companies comparable to Blueground include Mofang Gongyu, Habi, NoBroker, Orchard, eXp World Holdings and Real Brokerage. |
| How many companies has Blueground acquired? | Blueground has acquired 3 companies, including Nestpick, Travelers Haven and Tabas. |
| How many companies has Blueground invested in? | Blueground has invested in 1 company, including Tabas. |
| What was Blueground's last investment? | In January 2022, Blueground invested in Tabas' $7M Series A alongside VentureFriends and Guilherme Weege. |
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