SAN FRANCISCO--(BUSINESS WIRE)--Kindred, the members-only home swapping network, announced today the successful completion of its Series A funding round at $15 million. This round was led by New Enterprise Associates, with participation from existing investors Andreessen Horowitz, Caffeinated Capital, Bessemer Venture Partners, and Outset Capital, and welcomed several new individual investors such as Evan Moore (former Khosla investor), and Dylan Field (Figma CEO).
Kindred allows members to unlock a lifestyle rich with travel and human connection by matching with trusted peers to stay in each other’s homes as guests, not renters. The recent funding round showcases the potential of the give-to-get sharing economy to make travel a way of life. Kindred Members have spent over 5,000 nights at one another’s homes, and both Host and Guest Satisfaction scores are above 9 out of 10.
Kindred will utilize the funding to expand across core cities in North America in major markets including New York City, Los Angeles, Miami, San Francisco, Mexico City, and more, and launch in several major European cities later this year. The company will also continue to invest in its mobile app, building out its matchmaking technology and helping members discover new home swap opportunities.
"We believe that Kindred's innovative home-swapping model holds the potential to revolutionize the travel industry, offering unparalleled value and community for travelers," said Vanessa Larco, partner at NEA and Kindred board member. "We are thrilled to be part of Kindred's journey and look forward to seeing the company’s growth and expansion with this newest round of funding."
Since launching its private beta last spring, Kindred has experienced a tenfold increase in monthly trip bookings and has received 20,000 membership applications, largely from primary residences instead of investment homes. This growth points to Kindred’s efforts to make hosting approachable, trustworthy, and hassle-free for real people who are looking to share or swap their primary residences, versus those running short-term rental businesses.
"We’ve proven that there is significant appetite for a new approach to travel centered on peer-to-peer sharing, where every guest is also a host. Swapping with each other allows Kindred members to travel freely around the world with all the comforts of home,” said Justine Palefsky, CEO and co-founder of Kindred. "What we’ve seen over the past year is that when travel is both a better and more affordable experience, we start to fundamentally change what’s possible in people’s lives. We're excited to use this funding to continue to grow our network while maintaining a strong experience for our members."
To learn more about Kindred, visit https://livekindred.com/.
Founded by Justine Palefsky and Tasneem Amina in 2021, Kindred is a members-only home swapping network that harnesses the power of trusted community to unlock a lifestyle rich with travel and human connection. By exchanging their homes and apartments with peers, both renters and owners alike can access the opportunity to travel freely between vetted, off-market homes. Selected by Fast Company as one of the most innovative travel companies, the network harnesses the power of community through its “give a night to get a night” model. To learn more visit LiveKindred.com or follow along on Instagram, Facebook, Twitter, and LinkedIn.