The world’s largest marketplace for student accommodation – Student.com has received a further US$10m of funding to boost its Series C funding, taking the company to a total of $80 in financing to date.
This recent investment in the company came from CITIC Capital shortly after Student.com disclosed a growth of $600 million in gross bookings to date.
The student accommodation marketplace launched in 2011 and has helped thousands of students around the world to date; Student.com currently has over 1,000 universities in over 400 cities worldwide.
Our recent article covered their milestone of adding another 250,000 to their website in 2018 alone.
With a successful 2018 behind them, the company are now investing its time and efforts into technology, and the development of artificial intelligence as they try to meet the demands and lifestyle of modern-day students.
Luke Nolan, Founder and CEO at Student.com comments: “At Student.com we believe that this is just the tip of the iceberg for the student accommodation sector – and its true value sits in the region of $180 billion globally.
“Following our growth last year, we are looking at hitting the $1 billion completed gross booking value to date by the end of 2019. In order to achieve that we will continue to focus on using technological innovation in the platform to provide a marketplace to meet industry demand – both from a student and landlord perspective. It is encouraging to have the support of investors – such as CITIC Capital – who also see great potential in this market and Student.com’s future growth.”