Blueground, a leading real estate tech company in the UAE, recently announced that they secured $28 million in funding, marking a significant milestone for the company, as it has tripled its annual revenue yearly over the last three years.
The funding round included the participation of New York City-based tech entrepreneur Kevin Ryan, among other investors such as UAE-based Jabbar Internet Group, VentureFriends and Endeavor Catalyst.
Blueground that aims to become one of the most significant tenants by the end of 2019 will use the latest investment to continue investing in their technology and support their growth plans of leasing 1,000 apartments in Dubai by 2020.
What makes Blueground different from their competitors is that they use their leverage of city knowledge, design, and technology to make finding a new place more accessible. The company also offers apartments in some of the hotspots in the UAE such as, DIFC, Dubai Marina, and Downtown, and aims to make their customers feel at home wherever they choose to live.
Blueground Regional Manager for the Middle East, Amine Housni said, “We understand that technology is shaping trends and being able to leverage this shift is the key. In line with this, we focus on creating a tech-enabled living experience that guests love”, she added: “Our funding will support Blueground’s growth plans and help us move closer towards the goal of leasing 1,000 apartments in Dubai by 2020. It will also allow us to elevate further the experience we provide to landlords and guests and make the renting process as simple, cost-effective and seamless as possible.”