Summer is a vacation-home technology startup that leverages data analytics and AI to predict short-term rental revenue and guide its members to purchase or monetize second homes. Through its membership model, users can choose gradual ownership, immediate ownership, or simply place an existing property on the Summer platform; the company then handles offer submission, closing paperwork, inspections, interior design, furnishing, and ongoing property management. For gradual buyers, an upfront payment starting at 15% of the home price and monthly membership fees are credited toward eventual purchase, while owners who already hold a property pay Summer for turnkey rental management. CEO and founder Paul Kromidas, formerly a product and strategy lead at Airbnb, claims Summer-managed homes generate higher yields thanks to national marketing and quick ramp-up times. The company aims to remove friction and risk from short-term rentals amid tightening regulations across various U.S. jurisdictions. Proceeds from its most recent financing will fund product R&D, market expansion, and brand building. Summer has raised roughly $30 million in total equity to date but has not disclosed customer counts or revenue figures.

Total raised

$81M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Nov 2023