Furnished apartment rental provider Blueground has raised $45 million in Series D funding, the company announced Thursday, with which it plans to "accelerate the development of Blueground's technology and new strategic initiatives."
Blueground operates a network of more than 15,000 furnished apartments in 32 cities worldwide, designed for rentals of longer than 30 days. The privately held company claims to have generated $560 million in revenue in 2023, up from $300 million in 2022.
"Flexible lifestyles remain highly sought-after worldwide, catering to the needs of both individuals and corporate travelers in their professional and personal endeavors," the company said in a statement.
Blueground in recent years has launched a partner network through the acquisition of housing platform Nestpick and has begun to franchise its operations in Japan and Thailand.
The new funding round includes participation from Susquehanna Private Equity Investments, a new investor, "along with other notable investors including WestCap," according to Blueground. Meanwhile, the company announced it has raised a debt facility from Barclays with participation from Morgan Stanley, Deutsche Bank and HSBC, which will replace its prior debt facilities with Silicon Valley Bank.