Short-term rental company Frontdesk scores $13M for expansion

Wisconsin-based hospitality platform Frontdesk has landed $13 million in Series B financing. The funding round was led by Stormbreaker Ventures with support from JetBlue Technology Ventures, Veritas Innovations, Motivate Venture Capital and several strategic investors.

This latest round brings the short-term-rental startup to $22 million in total equity financing.

“As the world becomes more digital and more flexible, the need for our product has never been greater,” says Jesse DePinto, Frontdesk co-founder and CEO.

“We are grateful to be joined by partners who support our vision to power the future of dynamic living and meet the contemporary needs of living, working and traveling,” DePinto adds. “As we look toward the future, we are now even more excited about the generational opportunity ahead and Frontdesk’s leadership position within our category.”

Founded in 2017, Frontdesk offers short-term stays in multifamily communities across 30 U.S. markets. The company was selected as a PhocusWire Hot 25 Startup for 2022.

Frontdesk has picked up units from shuttered competitors such as Wanderjaunt, Stay Alfred and Domio. The alternative-accommodation brand says it manages one of the largest collections of short-term rental units in the country, with more than 1,000 units in 150-plus buildings.

Frontdesk says its proprietary software enables it to better serve guests and automate and scale internal operations. It continues to acquire new properties to add to its portfolio and plans to use the capital to expand into existing markets and buildings.

Mark Freed, Frontdesk board member and partner at Stormbreaker Ventures, speaks to Frontdesk’s “capital-efficient approach.”

“Supported by strong leadership and best-in-class technology, Frontdesk has built a sustainable, scalable business, and we are thrilled to continue being a part of their growth,” says Freed.

Jim Lockheed, partner at JetBlue Technology Ventures, says the short-term rental company is “exactly the type of business we believe will be a great partner for JetBlue Technology Ventures and our existing portfolio of early stage startups improving the future of travel and hospitality.”