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Blueground announced a $45 million Series D on March 28, 2024, naming Susquehanna Private Equity Investments, LLLP, and WestCap in connection with the equity round. The company said it would use the proceeds to accelerate technology development and pursue new strategic initiatives. The announcement also described a separate Barclays debt facility, which should not be confused with the Series D.
What is Blueground?
Blueground operates furnished rentals for stays of 30 days or more, serving individual renters and corporate customers. Its model is accommodation booked as a service rather than a conventional unfurnished lease. People comparing furnished monthly housing should check minimum stay, furnishings and services included, geographic availability, booking flexibility, and whether the arrangement is for an individual or an employer.
Blueground’s current About page describes its 30-day-plus furnished rental service and says it can source rentals across more than 20,000 U.S. cities. Coverage and inventory can change, so availability should be checked for the specific dates and location: Blueground About.
Who participated in the funding?
Blueground named Susquehanna Private Equity Investments, LLLP as a new investor and also named WestCap in connection with the $45 million equity financing. Separately, the company announced a debt facility from Barclays with participation from Morgan Stanley, Deutsche Bank, and HSBC, replacing earlier facilities with Silicon Valley Bank. The debt facility was distinct from the Series D equity round. Blueground’s March 28, 2024 announcement.
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- EXPANDABLE: Increase packing space up to 25% for added flexibility and organization
- ORGANIZED INTERIOR: Keep essentials organized with an interior divider and three zippered pockets
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What did Blueground say it would do with the proceeds?
The company said the Series D proceeds would accelerate technology development and support new strategic initiatives. It also described franchising and its Partner Network as capital-light growth initiatives, but the announcement did not specify how much funding would go to each effort. CEO and co-founder Alex Chatzieleftheriou said the investors shared the company’s vision of enabling flexible living on a global scale. Blueground announcement.
How large was Blueground at the time?
In its March 2024 announcement, Blueground reported operating 15,000 units across 32 cities and serving more than 4,000 businesses, including several Fortune 500 companies. These are company-reported figures for that announcement, not guaranteed current inventory or independently audited operating metrics. Blueground company information.
Rank #2
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What financial results were reported?
TechCrunch reported CEO Alex Chatzieleftheriou’s statement that sales “jumped by 70% to $560 million in 2023 over 2022’s $300 million in gross revenue.” The report also attributed to him a gross margin of approximately 35%, described as after payments to landlords for leases. These are CEO-attributed figures in contemporaneous reporting, not audited results established by the announcement. TechCrunch, March 28, 2024.
Does the announcement establish that Blueground was the market leader?
No independent market ranking is established by the available announcement or reporting. Susquehanna’s Dean Carlson called Blueground “the global leader” in furnished, flexible apartments for stays of 30 days or more, and the headline used similar positioning. That is an investor’s characterization, not an independently measured ranking. Company release syndication.
Rank #3
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What the Series D does not tell renters or investors
The financing announcement does not establish how the round affected Blueground’s valuation or current ownership, and it does not provide an audited account of 2023 financial performance. Nor does it establish current inventory, pricing, or booking availability. Renters should confirm the terms and availability for a specific property directly; the funding announcement is a historical company financing update, not a current offer of housing.
Quick Recap
Best Value
- CARRY-ON DESIGN: Best for 1-5 day trips without the hassle of checking luggage; measures 14.8 x 10 x 21.7 inches, including wheels
- DURABLE AND RELIABLE: Extra-thick hard shell with scratch-resistant finish guards against impact and rough handling
- EXPANDABLE: Increase packing space up to 25% for added flexibility and organization
- ORGANIZED INTERIOR: Keep essentials organized with an interior divider and three zippered pockets
- EFFORTLESS TRAVEL: Navigate with ease thanks to four multi-directional wheels, telescoping handle, and short lift handle
Rank #4
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
