Bungalow Valuation, Funding & Investors
Bungalow is valued at $600M as of August 2021.
Last Bungalow valuation
$600M
Series C · Aug 2021
Last Bungalow funding round
$75M
Series C · Aug 2021
Cumulative funding Bungalow raised
$121M
across 3 funding rounds
Key investors in Bungalow
Khosla Ventures
Founders Fund
Atomic
Coatue
Wing Venture Capital
Cherubic Ventures
About Bungalow
Bungalow is a San Francisco-headquartered residential platform founded in 2016 at bungalow.com. It leases multi-bedroom homes in desirable U.S. neighborhoods across seven cities including Los Angeles and New York. Renters select private bedrooms with vetted housemates in fully furnished properties equipped with WiFi, utilities, weekly housekeeping, and community events. Founders Andrew Collins and Justin McCarty emphasize flexible, communal living.
Founded
2017
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$600M (Aug 2021)
Sectors
Bungalow Valuation
Bungalow is currently valued at $600M, based on its Series C in August 2021.
The $75M round was led by Deer Park Road, with participation from Nine Four Ventures, Khosla Ventures, Flucas Ventures, Atomic, Founders Fund and 2 other investors.
Bungalow valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2021 | Series C | $600M |
Bungalow Funding History
Bungalow has raised a total of $121M across 3 funding rounds.
Bungalow's first fundraising round was a $14M Series A in August 2018. The most recent completed round was a $75M Series C in August 2021.
Bungalow funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2021 | Series C | Deer Park Road (lead); Nine Four Ventures; Khosla Ventures; Flucas Ventures; Atomic; Founders Fund; Coatue; Bossa Invest | $75M | $600M | Bungalow is a residential real estate marketplace providing communal rental options in shared homes, streamlining rent and utilities payments, service requests, and connecting prospects with housemates via Roommate Chat. The company operates across 16 major U.S. cities and towns, serving over 3,000 residents in more than 700 properties as of August 2021, with plans to expand to five additional markets including Miami, Tampa, Atlanta, Houston, and Phoenix by year-end. It raised $75M in a Series C round on August 24, 2021, led by Deer Park Road, with participation from Atomic, Founders Fund, Coatue, Khosla Ventures, and others, bringing total funding to over $150M. The Series C funding more than tripled Bungalow's prior valuation to a post-money valuation of $600M. Amid pandemic recovery, the company saw site traffic surge 108% in Q2 2021 versus Q2 2020, surpassing 2019 pre-COVID levels by over 40%, Roommate Chat volume more than double from March to June 2021, and renewal rates increase 15 points year-over-year. Bungalow leverages its operating history to help homeowners and investors identify properties and achieve higher net operating income than traditional property managers, boasting a 68% renewal rate versus the market average of 53.3%. The round supports scaling business and technology, market expansion, and innovation to meet rising urban renter demand as offices reopen. Investors like Deer Park Road's Scott Burg highlighted Bungalow's appeal in offering beautiful homes in desirable locations with established communities. Bungalow has since moved its HQ to Miami's Wynwood, tiptoeing into the market with fully leased offerings and planning fuller launches, amid broader proptech growth and high-profile sector IPOs/SPACs like Compass and Hippo Insurance. |
| Nov 2019 | Series B | Coatue (lead); Founders Fund (lead); Nine Four Ventures; Khosla Ventures; Maverick Ventures; Atomic; Cherubic Ventures; A-Rod Corp; Gaingels; CAA Ventures; Wing Venture Capital | $32M | - | - |
| Aug 2018 | Series A | Khosla Ventures (lead); Atomic; Cherubic Ventures; Founders Fund; UpHonest Capital; Wing Venture Capital | $14M | - | Bungalow is a residential real estate platform that leases multi-bedroom homes from owners, vets and matches compatible roommates, furnishes common spaces, provides utilities, Wi-Fi, housekeeping, and hosts events, offering rooms 30-40% cheaper than studios. Founded in early 2017, it had scaled to hundreds of properties and over 750 residents across Bay Area, Los Angeles, New York, San Diego, and Seattle by August 2018, announcing expansion to Portland and Washington D.C., targeting 12 major U.S. markets by year-end and global growth in 2019. Bungalow targets the $650 billion rental market for early career professionals by optimizing existing housing stock with long-term leases. On August 23, 2018, Bungalow raised a $14 million Series A led by Khosla Ventures, with participation from Atomic VC, Founders Fund, Cherubic Ventures, and Wing Ventures; Keith Rabois of Khosla joined the board. The company simultaneously secured a $50 million debt facility for home growth, bringing total new funding to $64 million, following a prior $7 million seed round. |
Who has invested in Bungalow?
15 investors have backed Bungalow across its funding rounds, including Khosla Ventures, Founders Fund, Atomic, Coatue, Wing Venture Capital and Cherubic Ventures.
Lead investors include Deer Park Road, Coatue, Founders Fund and Khosla Ventures.
Bungalow Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Aug 2018 | |
| Miami, FL | 3 | Participant | Aug 2018 | |
| San Francisco, CA | 3 | Lead | Aug 2018 | |
| Chicago, IL | 2 | Participant | Nov 2019 | |
 Taipei | 2 | Participant | Aug 2018 | |
| New York City, NY | 2 | Lead | Nov 2019 | |
| San Francisco, CA | 2 | Participant | Aug 2018 | |
| West Palm Beach, FL | 1 | Participant | Aug 2021 | |
| United States | 1 | Participant | Nov 2019 | |
| United States | 1 | Participant | Nov 2019 | |
| New York City, NY | 1 | Participant | Nov 2019 | |
| San Francisco, CA | 1 | Participant | Aug 2018 | |
| Steamboat Springs, CO | 1 | Lead | Aug 2021 | |
This data is available for Pro users. Sign up to see all 15 Bungalow investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialBungalow Competitors
Bungalow competitors include listed companies like Paradise and Star Entertainment Group, and private ones like Landing, Gathern, Danke Apartment and Le Collectionist.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $425M | - | |
 Riyadh | Private | - | - | $267M | - | |
 Beijing | Private | - | - | $2B | - | |
 Paris | Private | - | - | $148M | - | |
 South Korea | Publicly listed | $837M | $188M | $622M | 1.6x | |
 Australia | Publicly listed | $783M | ($103M) | $637M | 1.1x |
Bungalow Public Comps
Bungalow is still privately-owned, but its public comps include Paradise, Star Entertainment Group, Bally's Corporation, Risma, IFA Hotels & Resorts, Grupo Posadas, Tsogo Sun, Mahindra Holidays, China Travel International and Southern Sun.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $837M | $188M | 1.7x | 1.6x | 7.6x | 8.2x | |||
| $783M | ($103M) | 1.1x | 1.1x | (8.3x) | (167.6x) | |||
| $2.5B | $117M | 3.5x | 2.8x | 73.4x | 17.7x | |||
| $172M | $70M | 4.1x | - | 10.1x | - | |||
| $78M | $46M | 11.0x | - | 18.5x | - | |||
| $580M | $146M | 2.0x | - | 7.7x | - | |||
| $667M | $193M | 1.2x | 1.2x | 4.2x | 3.9x | |||
| $297M | $60M | 2.5x | 4.6x | 12.3x | 15.1x | |||
This data is available for Pro users. Sign up to see all Bungalow competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bungalow
| When was Bungalow founded? | Bungalow was founded in 2017. |
| Where is Bungalow headquartered? | Bungalow is headquartered in San Francisco, CA, United States. |
| Is Bungalow publicly listed? | No, Bungalow is a private, VC-backed company. |
| What is Bungalow's valuation? | Bungalow was last valued at $600M in its Series C in August 2021. |
| How much funding has Bungalow raised? | Bungalow has raised $121M across 3 funding rounds. |
| What was Bungalow's last funding round? | Bungalow's last funding round was a $75M Series C in August 2021, led by Deer Park Road. |
| Who are Bungalow's investors? | Bungalow's investors include Khosla Ventures, Atomic, Founders Fund, Nine Four Ventures, Cherubic Ventures, Coatue, Wing Venture Capital, Flucas Ventures, Maverick Ventures, A-Rod Corp and 5 others. |
| Which companies are comparable to Bungalow? | Companies comparable to Bungalow include Landing, Gathern, Danke Apartment, Le Collectionist, Paradise and Star Entertainment Group. |
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