A pre-approval app for renters called HomeMe is making progress, announcing that it’s closed on $3.2 million in seed funding.
HomeMe is the only mobile app that instantly pre-approves users to rent an apartment on demand. It’s a complete reversal of the daunting rental process, empowering users by eliminating applications and application fees. HomeMe is equipped with a real-time database of available units, making it one of the fastest and most convenient ways to find an apartment. It lets users easily browse listings, book appointments, and reserve a pre-approved apartment from a mobile phone.
Menlo Ventures, a top Silicon Valley Venture firm, which has invested in companies like Uber, Tumblr and Dropcam, led the round. Additional funding came from 2M Companies (Family office of Morton H. Meyerson), as well as other leading technology investors. This funding will accelerate market expansion and product innovation as HomeMe continues to shake up the rental industry by providing a convenient and fast way to rent apartments.
“We are dedicated to working with companies that are creating something entirely new, and we see that in HomeMe,” said Mark Siegel, Managing Director, Menlo Ventures, in a statement. “The way HomeMe has reinvented the apartment rental experience is less stressful, more efficient and is very compelling.”
Launched in Texas earlier this year, HomeMe is revolutionizing the rental process and empowering apartment hunters by only showing them apartments they’re pre-approved to rent. The process is simple. Upon download, the app prompts users to simply input their annual income and social security number for a soft credit check. Then, HomeMe only shows renters apartments they are pre-approved to rent. The app is 100% free and gives renters complete control over the process directly from their mobile phones. Renters no longer have to pay multiple application fees or worry about negatively impacting their credit with several inquires. Through a complete reversal of the traditional rental process, HomeMe is reinventing the way we find apartments.
“The apartment rental industry is soaring, which has attracted the attention of the investment community and tech innovators,” said Lindsey Holland, HomeMe co-founder and VP of Marketing. “HomeMe came to market at the perfect time with a completely new model for apartment renting. It’s mobile, convenient and empowering for the consumer so they can find the right apartment.”
HomeMe is co-founded by Mark Douglas, a serial entrepreneur and experienced Silicon Valley Executive. A recent recipient of the 2016 Entrepreneur of the Year award from Ernst & Young, Mark is also CEO of SteelHouse, a $100 million per year Ad-Tech Company. Previously, he was CTO of eHarmony, the Rubicon Project and part of the founding team of the Oracle Applications Division. Mark co-founded HomeMe with Lindsey Holland, Vice President of Marketing, an 11-year veteran in the property management industry where she built and managed multiple large-scale apartment properties.