Participated · Series B · Jul 2018

Peerspace operates an online marketplace connecting property owners and small business operators who list underutilized commercial spaces with companies and individuals seeking locations for meetings, events, and productions. The platform supports short-term bookings across its listings, enabling hosts to drive additional revenue from otherwise idle spaces. Peerspace currently operates in seven U.S. cities and three European cities, and its marketplace has served over 300,000 people with more than 100,000 booking inquiries transacted. The company is headquartered in San Francisco and is venture-backed by Foundation Capital and other investors. Peerspace emphasizes expansion, noting additional metros are coming soon. CEO Rony Chammas leads the company as it scales its marketplace offering. Peerspace operates a self-serve online marketplace that lets users book distinctive event and production spaces. The company has accommodated tens of thousands of events and lists about 6,000 locations across nine large U.S. cities, including churches, bookstores and mansions. It has expanded offerings to include add-ons such as catering scheduling and video equipment rental. Peerspace is investing in algorithmic vetting and has tested computer vision to automatically detect amenities in photos to improve listings descriptions. The company currently sends a staffer to review each location but plans to shift more toward user feedback and algorithmic reviews to scale. GV characterized the U.S. market opportunity as roughly $30 billion and plans to support Peerspace with design, recruiting and partnership help. Peerspace operates an online marketplace that helps professionals, businesses, and individuals find short-term space for meetings, social events, and productions. The platform serves companies across industries including automotive, healthcare, fashion and tech, as well as individual users. The company is led by Founder & CEO Rony Chammas and Co-Founder Matt Bendett, who oversees operations and marketing. Peerspace's service is available in multiple U.S. markets, including Austin, Berkeley, Beverly Hills, Burbank, Chicago, Culver City, El Segundo, Emeryville, Glendale, Great Neck, Hoboken, Kings County, Los Angeles, Malibu, Menlo Park, New York, Oakland, Pasadena, Queens County, Redondo Beach, San Francisco, San Jose, Santa Monica, and Sausalito. The company raised $11M in a Series A and intends to use the funds to continue expanding operations. Backers on the round included Foundation Capital, Mitsui Fudosan, Carthona Capital and Red Bridge Partners. PeerSpace operates a marketplace that lets users book short-term meeting and event spaces, positioning itself as an Airbnb-like alternative for creative venues. The platform launched out of San Francisco and has seen early traction with customers including LinkedIn, Instacart, and General Assembly. PeerSpace reports strong growth in core markets, expanding 70% over the last quarter and nearly 1,000% year-over-year for the first three quarters of 2014. The company competes with other meeting-space marketplaces such as Breather and Splacer. Financially, PeerSpace has raised venture and debt financing to date, and recently closed a new institutional round to fund expansion. Management changes include hiring Rusty von Waldburg as COO and adding former Airbnb CFO Andrew Swain and Foundation’s Paul Holland to the board to support scaling. PeerSpace operates a marketplace that enables hosts to list underused creative and meeting spaces and lets businesses book them for offsites, meetups, classes, and team activities. Hosts create listings via a mobile app, set rates, manage calendars, and accept booking requests. Early customers include teams from LinkedIn, Instacart, General Assembly, and Fitmob in the San Francisco Bay Area. The company reports 37% month-over-month growth in bookings and that 30% of customers who tried the platform returned for a second booking. PeerSpace has raised $1.5 million in seed funding and plans to use the capital to expand to a couple more markets by the end of the year. The company was founded by Rony Chammas and Matt Bendett; Jeanine Johnson was hired as CTO.