Consumer Startup Pillow Brings In $13.5 Million

Pillow closed $13.5 million in financing. Nine investors participated in the round, including Airbnb, Mayfield Fund, Sterling Partners, Peak Capital, Expansion Venture Capital, and Veritas Venture Partners.

Pillow offers a new way for residents of multi-family buildings to live and afford travel. The company’s technology provides residents with a full suite of management services and allows them to participate in a revenue sharing program with their building to earn extra income through short-term rentals.

Pillow was founded in 2014 by travel enthusiasts Sean Conway and Justin Miller, whose goal is to bring freedom to hosts while giving more guests the opportunity to have homes anywhere.

According to the company, Pillow has enrolled more than 5,000 units in locations including San Francisco, Oakland, Denver, Eugene, Salt Lake City, Louisville and Albuquerque. The company is working with apartment owners like Marian Group, Virtu Investments, and Peak Residential, so the public can expect its footprint to expand into more cities and buildings during the coming months.