TurnoverBnB raises a $4.5M Series A from RET Ventures

SaaS News - TurnoverBnB raises a $4.5M Series A from RET Ventures (source: SaaS Industry)
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At a Glance

TurnoverBnB, a hospitality software firm, has raised $4.5 million in a Series A investment round led by RET Ventures. With the new funding, the company will be able to expand its worldwide reach to serve the whole global market for home and vacation rentals.


TurnoverBnB, a hospitality software, has announced it has raised $4.5 million in a Series A funding round by RET Ventures, a proptech-focused VC firm. The other participant was Blue Startups. 

With this funding, the company will be able to grow its global footprint, notably in Europe and Australia, to serve the whole global market for home and vacation rentals.

TurnoverBnB, which was founded in 2016, fills a critical need for short-term rental owners by offering a unified platform for finding and managing cleaning services for their homes. In addition to its marketplace functionality, which allows operators to employ professional cleaners in hundreds of cities worldwide, the platform also includes features like auto-scheduling and auto payment to simplify the in-unit cleaning management process. TurnoverBnB has a user base of approximately 20,000 short-term rental hosts in total.   

When we founded TurnoverBnB in 2016, we realized that solving the tricky problem of in-unit cleaning would help support the maturation of short-term rentals, and it’s been very gratifying to see our business grow alongside the expansion of platforms such as Airbnb and VRBO.

Assaf Karmon, CEO and co-founder of TurnoverBnB

He added, “When we founded TurnoverBnB in 2016, we realized that solving the tricky problem of in-unit cleaning would help support the maturation of short-term rentals, and it’s been very gratifying to see our business grow alongside the expansion of platforms such as Airbnb and VRBO.”

TurnoverBnB’s business has expanded substantially in the last year, with revenues doubling since early 2021, thanks to people all around the world paying more attention to hygiene. TurnoverBnB’s business is primarily focused in the United States and Canada, but it is quickly expanding globally. 

TurnoverBnB aims to expand its professional staff soon to accommodate its regional development, hiring engineers, designers, customer service representatives, community managers, and marketing experts. TurnoverBnB delivers value beyond short-term rentals, with a useful platform that provides cleaning services in thousands of locations. The firm is looking to expand into the single-family rental and multifamily sectors. RET Ventures will be a significant partner to TurnoverBnB as it grows, offering access to its remarkable collection of limited partners, who jointly own and run over 2 million rental units.

The potential for a marketplace like the one curated by TurnoverBnB is significant, especially as the company scales to provide more offerings directed toward the residential space. Over the course of the past year, the single-family rental market has experienced significant growth, and there is a tremendous opportunity for technologies that support SFR portfolio operations. TurnoverBnB is perfectly poised to enter this emerging sector, opening the platform up for use by both mom-and-pop SFR owners as well as institutional players.

Aaron Ru, vice president at RET Ventures
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