Blueground, the hospitality-tech company, has announced that it has completed a new funding of US$12 million (approximately AED44 million) from a group of renowned global investors, including Dubai-based Jabbar Internet Group, VentureFriends, and Endeavor Catalyst. The latest investment marks the fourth and largest round of funding for Blueground, bringing the total investment from global investors in Blueground to nearly $20 million (approximately AED73.5 million).
According to the company, its basic concept is to lease carefully-selected, high-quality properties in the most sought-after locations on a medium and long-term stay basis to professionals and individual travellers.
Amine Housni, Blueground Regional Manager for Middle East, added: “Dubai has been one of the strongest Blueground markets and instrumental in our rapid growth. Having launched in Dubai just two years ago, we have built an impressive portfolio of more than 300 properties in some of the Emirate’s most desired locations, such as Dubai Marina, DIFC, Downtown, and others. We believe Dubai will continue playing a key role in our future growth, and the new funding will help us sustain this rapid growth and move us closer towards the goal of doubling our Dubai presence to 600 properties over the next year.”
Blueground has an ambitious vision for growth, with the goal of becoming the largest tenant in Dubai in 2019, as well as expanding to more than 50 cities with 50,000 properties in its worldwide portfolio by 2023. Besides Dubai, the company is currently present in New York, San Francisco, Boston, Chicago, Los Angeles, Washington DC, Istanbul, and Athens.
