InsurTech startup Jetty raises $25 mn in Series B funding

Insurtech startup, Jetty, which insurance and guarantor services to renters in the US, has recently closed a Series B funding round led by Keith Rabois …

Mike Rudoy- CEO& Co-Founder, Jetty

Insurtech startup, Jetty, which insurance and guarantor services to renters in the US, has recently closed a Series B funding round led by Keith Rabois of Khosla Ventures and amounting to $25 million. Existing investors, including Valar Ventures and Ribbit Capital, will also join the round. The investment brings the Company’s total funding to more than $40 million.

This recent funding will be used by Jetty to expand its real estate distribution footprint, leveraging its property management partners as its primary channel to provide a better resident experience.

“As growing metropolitan areas struggle to build enough housing supply, no financial services have helped mitigate the impact to consumers,” said Keith Rabois, Managing Director at Khosla Ventures. “Jetty is focused on improving the lease-signing experience by providing a suite of financial services from a security deposit replacement product to a renters insurance product, for both renters and their property managers. By providing value to both sides, they’ve been able to create partnerships with the largest property managers across the U.S.”

“The process of signing a lease is full of barriers: It’s time-consuming and can be prohibitively expensive for everyday renters to access their desired home,” said Mike Rudoy, CEO and co-founder of Jetty. “Jetty is challenging the status-quo by empowering the everyday renter with tools to lower move-in costs, while simultaneously giving property managers a way to streamline operations and mitigate risk. It’s truly a model where everyone wins.”

Established in 2017 and headquartered in New York, Jetty empowers renters with financial access to rental homesacross the nation. Its three products work alone or together to lower the barrier to entry for everyday renters with a tech-focused, design-centric product.

Founded in 2004 by Vinod Khosla, Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. With over five billion dollars under management, the firm focuses on a range of areas including consumer, enterprise, education, advertising, financial services, semiconductors, health, big data, agriculture/food, sustainable energy and robotics.

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Jetty Raises $25 Million In Series B Funding Led By Khosla Ventures

Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in …

NEW YORK, Feb. 6, 2019 /PRNewswire/ — Jetty, a fintech startup that empowers everyday renters with tools to access rental homes nationwide, today announced a $25 million Series B funding round led by Keith Rabois of Khosla Ventures, who will join the Company’s Board of Directors. Existing investors, including Valar Ventures and Ribbit Capital, will also join the round. The investment brings the Company’s total funding to more than $40 million.

The new investment will be used to continue to build and improve upon Jetty’s mission of empowering everyday renters with access to the homes they desire. Through further investments in technology and personnel, Jetty will expand its real estate distribution footprint, leveraging its property management partners as its primary channel to provide a better resident experience.

“As growing metropolitan areas struggle to build enough housing supply, no financial services have helped mitigate the impact to consumers,” said Keith Rabois, Managing Director at Khosla Ventures. “Jetty is focused on improving the lease-signing experience by providing a suite of financial services from a security deposit replacement product to a renters insurance product, for both renters and their property managers. By providing value to both sides, they’ve been able to create partnerships with the largest property managers across the U.S.”

Jetty’s property management partners include LivCor, Beam Living, Griffis, LeFrak, Lynd, and Rose Associates, among others—together spanning more than 500,000 rental units nationwide. Through these partnerships, Jetty Members have saved an average of $1,350 on move-in costs with Jetty’s security deposit replacement product, Jetty Deposit. In addition, renters can gain protection through Jetty Renters Insurance, and they have the option to use Jetty as an institutional guarantor with Jetty Lease Guaranty. The result is a drastically improved resident experience, and a more efficient leasing process for the property manager.

“The process of signing a lease is full of barriers: It’s time consuming and can be prohibitively expensive for everyday renters to access their desired home,” said Mike Rudoy, CEO and co-founder of Jetty. “Jetty is challenging the status-quo by empowering the everyday renter with tools to lower move-in costs, while simultaneously giving property managers a way to streamline operations and mitigate risk. It’s truly a model where everyone wins.”

ABOUT JETTY

Jetty empowers renters with financial access to rental homes nationwide. Its three products work alone or together to improve the lease-signing experience, lowering the barrier to entry for everyday renters with a tech-focused, design-centric product. Jetty was founded by Mike Rudoy and Luke Cohler, launched to market in 2017, and is headquartered in New York, NY. To learn more, www.jetty.com or www.jetty.com/property-management.

ABOUT KHOSLA VENTURES

Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems. With over five billion dollars under management, the firm focuses on a broad range of areas including consumer, enterprise, education, advertising, financial services, semiconductors, health, big data, agriculture/food, sustainable energy and robotics. Khosla Ventures is headquartered in Menlo Park, Calif.

Contact

Jetty

Hadley Stecker, 978-473-1754

hadley.stecker@jetty.com

SOURCE Jetty

Related Links

http://www.jetty.com

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Pantera Capital backs blockchain startup Synthetic Minds

Smart contract security venture Synthetic Minds has raised $5.5 million in a round involving blockchain investment fund Pantera Capital and Khosla …

Smart contract security venture Synthetic Minds has raised $5.5 million in a round involving blockchain investment fund Pantera Capital and Khosla Ventures.

Founded in 2017, the US-based startup recently graduated from the Y Combinator technology accelerator programme, during which it landed investment and launched the first version of its technology.

“Synthetic Minds was created with the objective of bringing automation to coding,” says Founder Saurabh Srivastava. “Specifically, our code analysis tools read code better than humans, and we are getting close to automation that can write code better, as well. Our long-term mission is make software creation accessible to everybody, especially non-programmers.”

“We believed in the team at Synthetic Minds and their expertise to build hard tech that will further grow adoption of smart contracts, both in the public and enterprise domains,” says Khosla Ventures Founder Vinod Khosla.

“They are uniquely positioned to enable an enterprise-grade, safe, smart contract platform. Provably correct smart contracts through programme synthesis are key steps needed for smart contracts on the blockchain and for software, in general.”

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Synthetic Minds raises $5.5 million to build trust in blockchain code

Synthetic Minds, which aims to build safer blockchain code, today announced it has raised $5.5 million in a new round of funding. The San Francisco …

Synthetic Minds, which aims to build safer blockchain code, today announced it has raised $5.5 million in a new round of funding.

The San Francisco startup is a graduate of the most recent summer class from the Y Combinator accelerator.

The money came from Khosla Ventures and Pantera Capital (a cryptocurrency-focused fund). This funding comes on the heels of investment from Y Combinator.

Synthetic Minds’ core technology is called program synthesis. This falls under the umbrella of a computer science discipline called formal methods. NASA uses formal methods to ensure the safety of mission critical software in the space station and the Mars Rover.

With program synthesis and formal methods, Synthetic Minds has built automation that can analyze (read) and synthesize (write) computer code better than humans can.

Synthetic Minds was created with the objective of bringing automation to coding.Synthetic Minds was created with the objective of bringing automation to coding.

Above: Synthetic Minds was created to bring automation to coding.

Image Credit: Synthetic Minds

This technology is perfect for cases in which software embodies high value and permanence. Space applications and blockchain code interestingly share those characteristics. Because smart contracts are permanent, multiple $100 million bugs have disabled large important projects.

Using Synthetic Minds, blockchain companies can build more trust in their smart contract code.

The company is currently run by just its founder, Saurabh Srivastava, and will start hiring soon. The product is ready and Synthetic Minds has paying customers, with the goal of having 10 customers by the end of 2018.

“Synthetic Minds was created with the objective of bringing automation to coding,” said Srivastava, in an email. “Specifically, our code analysis tools read code better than humans, and we are getting close to automation that can write code better, as well. Our long-term mission is make software creation accessible to everybody, especially non-programmers.”

Srivastava has a doctorate in computer science from the University of California at Berkeley. His previous company, 20n, was funded by YC, Khosla Ventures, Blumberg Capital, and Paul Buchheit, amongst others.

“We believed in the team at Synthetic Minds and their expertise to build hard tech that will further grow adoption of smart contracts, both in the public and enterprise domains,” said Khosla Ventures founder Vinod Khosla, in a statement. “They are uniquely positioned to enable an enterprise-grade, safe, smart contract platform. Provably correct smart contracts through program synthesis are key steps needed for smart contracts on the blockchain and for software in general.”

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Startup World Cup 2019 Applications are Open

Startup World Cup had veteran investors from Kleiner Perkins, Y Combinator, Techstars, Intel Capital, 500 Startups, GE Ventures, DFJ, Social Capital, …

The Startup World Cup Grand Finale features prominent figures from the high tech community, including John Chambers (Former CEO of Cisco), Steve Wozniak (Co-Founder of Apple), Reid Hoffman (Founding CEO of LinkedIn), Vinod Khosla (Co-Founder of Sun Microsystems), Adam Cheyer (Co-Founder of Siri), Marc Randolph (Co-Founder of Netflix), and Jay Vijayan (Former CIO of Tesla). Startup World Cup had veteran investors from Kleiner Perkins, Y Combinator, Techstars, Intel Capital, 500 Startups, GE Ventures, DFJ, Social Capital, Index Ventures, and Plug and Play Ventures, as well as investors from all over the world, judging the global and regional finals. Startup World Cup 2019 Grand Finale is scheduled for May 2019 in San Francisco.

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