Today we announced that we raised a small funding round, which will allow Team Cozy to stay focused on several big goals. We’ve faced some massive challenges since we raised our Series A round back in 2013. We’ve overcome all of them, found our footing, and are growing quickly heading into our best year yet.
For those of you who have been following Cozy for a while, you may remember that we changed our pricing model a year ago. Since making that change our revenue has grown 65x, and by the end of 2015 it will be over 100x where we were at that point. Our customer base has grown by 500 percent in those same 12 months, and we’re now used by tens of thousands of property management companies and independent landlords in 4,000 cities around the country. That’s every urban area, every suburb, every college town, and many places in between.
We’ll be using this next infusion to grow our team in Portland, increase our product development velocity and customer support speed, forge new partnerships, and do what we’ve always done: make beautiful, innovative products that really do improve people’s lives.
It’s great to have the continued backing of our teams at General Catalyst and Social+Capital Partnership. Likewise, we’re excited to have some Grade A additions to our investment/advisory team, including Stewart Butterfield (co-founder of Slack and Flickr), Erik Swan (co-founder/CTO of Splunk), Jason Calacanis (Launch, Inside) Christian Reber (co-founder and CEO of Wunderlist), and Dino Vendetti (founder at Seven Peaks Ventures).
We’ve never been a company to celebrate fundraising - we see venture capital as a means to pursuing value creation in innovative ways that we know can change the world. But as with each previous funding round, it’s also necessary to recognize that we wouldn’t be here without the hard work of every single Cozyan, and every single Cozy customer. So, thanks for believing in our vision and being down for the cause, and thanks for using Cozy.