Today is a special day for Belong.
SAN MATEO, Calif., May 23, 2022 /PRNewswire/ -- We are announcing an $80M Series C Financing led by Dan Wenhold at Fifth Wall. All our major investors (Battery Ventures, GGV Capital, and a16z) are doubling, tripling, and quadrupling down on our dream.
We founded Belong (www.belonghome.com) as first-generation immigrants to the United States. As immigrants, we had to redefine what Home meant to us in numerous ways multiple times.
The mission of Belong is to create authentic belonging experiences, empowering residents to become homeowners and homeowners to become financially free.
In simple words, we are on a mission to make the terms landlords and tenants obsolete. Replacing them with a more caring, empowering, and human-centric system. Putting people first.
This mission is of cultural and pragmatic relevance to the future of the United States and the world.
The last 40 years saw a combination of stagnant wages and a restricted housing supply due to local and federal policies. As a result, home prices have increased dramatically to unsustainable levels, creating two entire generations of perpetual renters. The average worker with an average salary is priced out of the average home.
In addition, the last ten years saw a significant concentration in ownership of the housing supply. As a result, individual homeowners and renters now compete with prominent hedge funds to access homes to live in and build long-term wealth.
Belong is the counterforce to this grim future, where giant corporations own a majority of homes.
We have made owning a rental home easy and stress-free enabling more individuals to build equity in, and generate cash flow from, their homes - ultimately building towards financial freedom. We do this by offering a one-stop-shop home management platform for homeowners so they never have to be a landlord, get financial tools to manage their investment, guaranteed rent, and have their home be taken care of by high-quality residents and our in-home maintenance team. As a result, our homeowners can now become small-scale investors using Belong's system.
We have created a new system, one made with love, that enables residents to receive extraordinary service while they build towards homeownership with each on-time rent payment, helping them break the perpetual renting cycle.
Belong's version of the housing market is one where homes are in the hands of regular people.
For that, we work day and night to make renting a home delightful and financially sound. The way it should always have been.
Our rapidly growing community agrees! We have thousands of homeowners and residents in Belong Homes. Our customer satisfaction is several orders of magnitude higher than the industry average. Our members rave about the Belong system in our public reviews.
This journey hasn't been easy. And it won't be going forward. It will be challenging and fraught with unexpected surprises. It will also be fun and rewarding.
One thing, we can promise: the best is yet to come!
SOURCE Belong
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