Bungalow CEO Andrew Collins, left, and Keith Rabois, now general partner at Founders Fund, in 2018. Photo: Bloomberg
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Housing Startup Eyes Valuation Over $100 Million With New Round

Photo: Bungalow CEO Andrew Collins, left, and Keith Rabois, now general partner at Founders Fund, in 2018. Photo: Bloomberg

A host of startups have sought to build residential housing’s answer to office giant WeWork: a modern property manager that offers flexible leases and a friendly atmosphere for residents. One of the tech industry’s most prominent investment firms is backing a newer entrant to the field, even as the concept as a whole has struggled to catch fire. 

Bungalow Living, a San Francisco–based startup that leases single-family homes and rents out individual rooms to young professionals, is nearing a deal to raise between $30 million and $40 million of equity capital, people familiar with the matter said. The Series B financing, led by Founders Fund general partner Keith Rabois, would bring Bungalow’s valuation to more than $100 million, nearly twice what it was valued in a funding round last summer.

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