TurnoverBnB
, a Hawaii-based startup that helps short-term
rental operators find and manage cleaning services, has raised $4.5 million in Series
A funding.
RET Ventures led the round, with
participation from Hawaii-based accelerator Blue Startups.
Founded in 2016, TurnoverBnB provides a marketplace that gives
rental operators access to cleaners in thousands of cities around the world. The
platform also enables operators to manage scheduling and payments to
cleaners.
The company says more than 20,000 rental hosts use its system, with its
revenue tripling since early 2021 due to increased focus on hygiene because of
COVID.
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“When we founded TurnoverBnB in 2016, we realized that solving the tricky
problem of in-unit cleaning would help support the maturation of short-term
rentals, and it’s been very gratifying to see our business grow alongside the
expansion of platforms such as Airbnb and Vrbo,” says Assaf Karmon, co-founder and CEO of TurnoverBnB.
“Even as COVID restrictions are rolled back and travel surges, health
concerns remain, which has driven many travelers toward vacation rentals in
lieu of conventional travel accommodations. With the supply of short-term
rental units having trouble keeping up with demand, services like ours - which
enable faster turnover of these units - are particularly timely, and we
anticipate significant growth in the months ahead.”
TurnoverBnB says its current business is primarily in the United States and
Canada and it will use this funding to expand its reach in Europe and Australia.
The company is also looking to expand its services into the single-family
rental and multifamily sectors.