Milwaukee-based Frontdesk, Inc. has raised $4,009,364 through its latest funding round, according to a Securities and Exchange Commission filing. There are 26 investors who took part in the funding round, which had a total offering amount of $6 million. Frontdesk is a tech-enabled company that targets short-term business and personal travelers, leasing apartments in upscale
Milwaukee-based Frontdesk, Inc. has raised $4,009,364 through its latest funding round, according to a Securities and Exchange Commission filing. There are 26 investors who took part in the funding round, which had a total offering amount of $6 million.
Frontdesk is a tech-enabled company that targets short-term business and personal travelers, leasing apartments in upscale neighborhoods and then subletting them to guests and providing on-site management of the properties.
Company leadership declined to comment on this funding round.
Last August, also Frontdesk closed a $7 million funding round and company leadership predicted becoming profitable this year. At that time, Jesse DePinto, co-founder and chief product officer, said the company was planning to accelerate growth of its software business.
[caption id="attachment_447233" align="alignleft" width="163"] Jesse DePinto[/caption]
Frontdesk has recently partnered with Madison-based Remotely, a provider of mid-term housing for remote workers, to provide an operational platform.
At BizTimes Media’s Innovation + Entrepreneur Forum last December, Frontdesk CEO and co-founder Kyle Weatherly said the company experienced its biggest challenges during the COVID-19 pandemic, when most people ceased any unnecessary travel for several months.
“Two-thirds of our competitors are out of business. This is a great opportunity for us now. We view ourselves as like the Bubba Gump Shrimp Company coming out of COVID, but we haven’t fully survived it,” Weatherly said.
Despite these difficulties, Frontdesk has continued to see rapid growth, even being named to the Inc. 5000 in 2021. The company had a 3,012% three-year growth rate, according to Inc. magazine and was ranked #136 on the Inc. 5000 list.
