Highland Capital Partners Leads Round Six Months after Initial Seed Investment, with Participation from Draper Fisher Jurvetson Founder Tim Draper
SAN FRANCISCO -- February 2, 2011 -- RentJuice, the online platform that connects prospective renters, brokers and property managers to each other in real-time, today announced that it has closed a $6.2 million financing, which will help accelerate the Company’s rapid growth trajectory. The funding will be led by Highland Capital Partners, with continued participation from Tim Draper, who led the company’s seed financing.
“We’re thrilled that leading investors like Highland and Tim Draper are doubling down on our vision of a convenient online rental experience,” said David Vivero, cofounder and CEO of RentJuice. “With this capital, we can speed up development of our real-time rental platform and make it available to property managers and leasing agents all across the country.”
Founded in 1988, Highland Capital Partners is a venture capital firm with an exceptional track record of helping great people build great companies. The firm has backed leading Internet brands such as VistaPrint, Digg and Lycos. Tim Draper is the founder and a managing director of Draper Fisher Jurvetson and has been integral to the success of companies like Hotmail and Skype.
RentJuice – introduced to the New York market last month after finding success in Boston, Chicago and Miami – is a free online platform where rental professionals collaborate to close rentals faster. With RentJuice, property managers and landlords share their availabilities with select partner agencies in real-time, eliminating information delays and inaccuracies. RentJuice users can also upgrade to a suite of paid features that automate laborious administrative tasks, such as advertising, lead management and lease paperwork.
“Over the last six months we’ve had the opportunity to witness RentJuice’s progress, and the most remarkable thing about the Company is its passionate, loyal following,” said Peter Bell, general partner at Highland. “It really struck me to see how often and how deeply RentJuice is being used by its customers and the difference it’s making in their real estate businesses. We look forward to being instrumental in bringing RentJuice to cities nationwide.”
With the firm’s latest commitment of capital, Bell will join Vivero and John Zdanowski, former CFO of Linden Lab/Second Life and Market Leader, on RentJuice’s Board of Directors.