- Hospitality company WanderJaunt announced it has raised $15 million in Series B funding led by Founders Fund
In a blog post on Medium, WanderJaunt co-founder Michael Chen announced that the hospitality company has raised $15 million in Series B funding led by Founders Fund. WanderJaunt is also welcoming new investors Tribe Capital, Stone Bridge Ventures, Tony Xu (DoorDash co-founder and CEO), Andy Fang (DoorDash co-founder and CTO), Adrian Aoun (Forward CEO) and Chung-Man Tam (2nd Address CEO).
Last year, WanderJaunt launched in Austin, Texas and this year the company grew to over 100 properties in the area.
“We’ve also seen continued growth in the Phoenix metro area, operating close to 250 properties there. In those cities we’ve had the privilege of hosting travelers of all types — business and leisure — on both short and long term stays. We are still at the beginning of our journey to redefine hospitality, and WanderJaunt’s future remains brighter than ever,” wrote Chen.
With this funding round, WanderJaunt has raised over $25 million. And Founders Fund general partner Keith Rabois is joining the board.
Ever since WanderJaunt raised its Series A round of funding, the company achieved unprecedented growth, increasing total stays by over 500%. And this Series B funding will enable the company to deepen its presence in their existing markets and operate in four markets in the U.S. by the end of 2019. To support the growth, WanderJaunt is expanding its teams in San Francisco, Phoenix, and Austin.
Chen had founded WanderJaunt with COO Andrés Green and CTO Barrett Glasauer.
“As we announce this exciting news, it’s hard to believe that three short years ago Barrett, Andres, and I were managing only one property in Phoenix,” added Chen. “For the first many months, our founding team was also our cleaning, maintenance, and customer support teams. Thankfully, we’ve been lucky enough to find much better versions of all those teams to help us along the way, but our learnings from those days will always remain top of mind. This is an operationally intensive business, but a rewarding one when done correctly.”