New student accommodation provider StudentRoomStay.com (StudentRoomStay) has closed its successful first initial seed round of funding at a post valuation of well over $10M USD. StudentRoomStay.com conducted the raise so that it could accelerate growth post COVID-19, as well as purchase technology and IP from internationally recognized Australian company MyStay International.
StudentRoomStaywas founded by two key figures in the education sector - Adam Lee, based in California, and David Bycroft from Brisbane, Australia.
User-Friendly App Spotlights Student Preference and Safety
“This platform was built with students in mind. We will be focusing on improving student options in accommodation and enhancing the student experience,” said CEO and Co-Founder Adam Lee.“We will provide an array of ancillary services, all while keeping student safety our number one priority.”
StudentRoomStay.com is predicted to be very popular for domestic and international students. It will encompass all forms of student accommodation, including room rentals, purpose-built student accommodation, homestay and on-campus accommodation.
“Students will be able to set search filters according to their preferences and will then be provided a list of living options pertaining to their specific needs,” said Lee. “Giving students the ability to make informed choices about their living situations takes pressure off the education industry which often struggles to provide sufficient accommodation in student-popular areas.”
Anticipating Global Impact
“By bringing our respective American and Australian talents and technologies together, we are creating one of the most experienced teams ever assembled in the student accommodation industry,”said StudentRoomStayCo-Founder David Bycroft. “We will be merging all our related operations into this one venture, which will very quickly enable StudentRoomStay to become the global leader in student accommodation.”
StudentRoomStay.com will commence operations initially in the United States in 2020. This action will promptly be followed by launches in Australia, Canada and eventually the rest of the world.