The Pillow Company
A Little Pillow Company with Big Attitude. Creative and Comfortable Pillows for All.
Pillow Industry Short-term rental management Founded July 2013; 5 years ago ( 2013-07) Founders Sean Conway, Justin Miller, Todd Conway, Dan Palumbo Headquarters, Website Pillow is a management solution for multifamily short-term rentals. Residents can host short-term rentals while multifamily owners and property managers have control over the process.
Multifamily operators can also list vacant units for short-term rentals. The company, which focuses on urban centers, is currently operating in 35 cities including,. It is offered in apartment complexes like Livcor, BH Management, Blanton Turner and First Communities. On October, 25 2018, the announced that it had acquired Pillow. Contents.
History In 2013, Sean Conway, Justin Miller, Todd Conway and Dan Palumbo launched Airenvy, Inc. The founders renamed the company Pillow Homes, Inc. The idea for the service was thought of by Sean Conway, Justin Miller after they sold their first company Notehall to, and began traveling the world. Conway listed his San Francisco property on Airbnb while he was traveling, and realized there was a need for an easier way to manage his property while away.
During the company's first months, the founders started listing their San Francisco apartments on Airbnb and staying with each other to test out their new short-term rental management ideas. Within the first year, the company received their first round of funding at $2.4 million and moved to an office location in San Francisco.
Pillow raised $16.15 million in investment capital in three rounds of funding in 2014-2017. On November 5, Pillow announced its partnership with along with San Francisco's largest building owner, Veritas Investments. The company launched its mobile applications, Pillow for iOS and Android, for property residents and cleaning professionals in all their serviceable locations. Business Model Pillow operates as a multifamily short-term rental management solution. Owners and property managers have control over the short-term rental process. They are able to monitor who is in the building, set building restrictions, while receiving a percent of the profits.
The company helps residents stay in compliance with local regulations cities are placing on short-term rentals by monitoring the rules. Landlords who enroll their buildings in the Pillow program can rent out vacant units through the platform. Pillow includes guest access to buildings and a verified network of cleaners for turnover services.
Financing Pillow publicly announced their seed funding round in January 2015 with Homebrew Ventures as their lead investor, to bring their total funding to $2.65 million. In June 2017, Pillow raised $13.5 million in new funding led by Mayfield, with participation from Sterling.VC, Peak Capital Partners, Expansion VC, Chris Anderson, Gary Vaynerchuck, Dennis Phelps and Veritas Investments. During the same time, Pillow released its newest product, Pillow Residential, a management platform for short-term rentals in multifamily apartment complexes. References.
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