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StudentRoomStay announces $10m funding round

Student accommodation provider StudentRoomStay.com has closed its first seed round of funding at a post valuation of more than $10 million as it prepares its 2020 US launch, before expanding to other international markets.

StudentRoomStay says it will include all student housing options, including room rentals, purpose-built student accommodation, homestay and on-campus accommodation. Photo: Pexels/ Daria Shevtsova

After launching in the US in 2020, StudentRoomStay will expand first to Australia and Canada

Founded by Adam Lee of US-based AmeriStudent and David Bycroft of Australian company MyStay International, StudentRoomStay is seeking to “build the future of student accommodation worldwide” for both domestic and international students.

The provider raised the funding round in order to accelerate growth post Covid-19, as well as purchase technology and IP from MyStay International.

“We are creating one of the most experienced teams ever assembled in the student accommodation industry”

The recent funding was raised from three independent investors.

“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 will include the range of student accommodation, from room rentals, purpose-built student accommodation, homestay and on-campus accommodation.

“We are creating one of the most experienced teams ever assembled in the student accommodation industry,” said 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.”

Beginning with a summer launch throughout the US, StudentRoomStay will expand first to Australia and Canada before the rest of the world at a later stage.

“We plan to launch in four major countries with a substantial base within one year,” Lee explained, adding the company will benefit from experience in tackling the hardest segment of the student accommodation market – the under-18 homestay.

“Our base has been built from our extensive involvement with homestay and this is the most concierge type of accommodation available,” he said.

“We will have a series of filters that the student can alter to determine the best options for them and check across all types of accommodation available.”

The team will continue to develop the platform to prepare for travelling to resume and the industry to recover, Lee continued.

“We are in a very good position to attack the market fast when we go live,” he added.

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9 Responses to StudentRoomStay announces $10m funding round

  1. Hi how so we sign up . We already signed up w ameristudent. Is this a add on to that and do we do it all year, is there a stipend.

  2. I would like to hos and international high school student in my house.
    I live in Pittsburgh, PA USA with my family.

  3. We can host college age students who go to Arizona State University in Tempe Az. We have been hosting foreign students for almost 10 years. Please tell me more about your policy/agreements.

  4. My husband and I have hosted international students and has been a very rewarding experience. Please let us know if you need a host family, we are in Santa Clarita, California.

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