June Homes, a New York-based proptech company, raised $50M in funding.
The round was led by SoftBank Ventures Asia with participation from TQ Ventures, FJ Labs, K50, Reshape, Quiet Capital, Demi Lovato and Scott Belsky.
The $50M in equity financing includes:
The company intends to use the funds to accelerate expansion to other U.S. markets.
Led by founder and CEO Daniel Mishin, June Homes provides a proptech startup that’s using technology to improve the rental experience for tenants and small mom-and-pop landlords. The company has built an algorithm that detects apartments with untapped potential (often in disrepair) and developed a process to inspect, upgrade, renovate, and list units for rent in just under 72 hours.
June Homes tenants can discover, apply for, and move into their new home in as little as three hours. The homes are fully customizable — tenants can rent furnished or unfurnished, with roommates or alone, and have the option to stay for as long as they’d like (1-18 months) while paying fair and accessible prices.
The company has signed on thousands of tenants across NYC, DC, San Francisco, Los Angeles, Philadelphia and Boston.
In addition to new funding, June Homes is announcing additions to its leadership team, including: