Social Network MyPlace Raises Funds For Global Expansion, Awareness

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MyPlace, the social network that helps friends share their homes, announced it has secured $5.8 million in seed funding.

Freestyle led the round, joined by Haystack, Oceans, and OnDeck, as well as notable angel investors from Tesla, Facebook, and PayPal.

This new funding will enable the platform to launch its iOS app as well as focus on its rapidly expanding global communities. Additionally, MyPlace will continue to actively market its network, building awareness around the world.

MyPlace was originally launched by entrepreneurs Zach Bell and Rameet Chawla to share their own private homes among trusted friends, and it has quickly grown into a network used by thousands who are sharing their places globally. Currently, MyPlace members are sharing their homes in over 86 cities, and that number is rapidly growing.

MyPlace co-founder and CEO Zach Bell said: “We are excited to attract such strong partners to help the world share more with their friends. This is the beginning of the real sharing economy. There is an incredible opportunity for MyPlace to facilitate connections amongst trusted friends, build impactful networks, and meaningfully help people move around the world in the new ways that we are seeing.”

This approach to community building and less transactional travel experiences has driven exponential growth for MyPlace since debuting in 2019. This desire to offer a better way to share more within a trusted network, paired with the acceleration of remote work allowing for extended trips, will fundamentally change the way we approach travel – and MyPlace is leading this innovation.