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Venture Capital News: Roomi Receives $4M

2016-07-28
NEW YORK, NY, Roomi announces an additional $4 million in seed funding led by DCM Ventures.
According to Techcrunch, Roomi has raised an additional $4 million in seed funding led by DCM Ventures to expand internationally. This brings their total funding to $6 million.

'There's a whole generation of millennials leading a housing transformation -- they live and rent differently than their parents did. They are moving more frequently and renting later into their lives,' David Cheng, investor at DCM Ventures explained why he sees a market opportunity. 'We believe that Roomi, as a dedicated platform for rentals and co-living, caters to this generation's housing needs.'

CEO Ajay Yadav told TechCrunch that 'the goal is to build a platform people can trust.' He said that Roomi is going to be working with services to incorporate stringent background checks, to make sure that someone isn't unwittingly moving in with someone with a criminal record.

It's the roommate-first approach which he hopes will set Roomi apart from Trulia, Zillow and the rest of the many other housing apps.
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