Rove is the next generation marketplace for luxury property rentals paired with property management software. In 2024, Rove scaled to $17M of run-rate Gross Booking Value (”GBV”), and $4M run-rate net revenue with incredible capital efficiency — achieving monthly profitably 4x Y/Y net revenue growth.
The founding team brings deep expertise scaling venture-backed marketplace and technology businesses. Jonah Hanig, co-founder & CEO, previously co-founded Explo, a customer analytics software company, completing Y Combinator in 2020; Kyle Siegel, co-founder & CTO, led product and software engineering at SpaceX and Snapchat.
Rove raised a seed round in 2022 with top investors including Nomad Ventures, Humbition, BAMCAP, Four Cities Capital, Daniel Gross, Jack Altman, Immad Akhund, Austen Allred, Julian Shapiro, Alan Rutledge, Mark Rosner, Rafael Vivas, Nick Kokonas, Ben Zises, and Siqi Chen as well as many other prominent investors and operators.
Rove is raising capital to row our business development team and scale our product and engineering teams to launch RoveSuite, property management software for home owners. We are on a path to hit hit $10M run rate by the end of in 2025. By building an end-to-end software platform for luxury property owners monetized with a luxury rental marketplace, Rove is charting a path to tackle the $116+ billion luxury property market.*
*(1) — 13% CAGR through 2024; additional equity research
*(2) — Airbnb ($72.3B) and Booking.com ($125.0B) market cap at market close 08/06/2024