Pillow closes Series A led by Mayfield on $13.5m

Pillow has closed its Series A funding round on $13.5m, led by California-based venture capital firm Mayfield.

Other firms that took part in the funding round included Sterling Equity, Peak Capital Partners, Expansion VC, Veritas Investments and TED Talks curator Chris Anderson, among others.

Founded in 2013, the company helps to simplify renting rooms to guests, with automated marketing, guest management, key exchange and turnover.

Following the deal, the company is launching short term rental management platform for multifamily buildings Pillow Residential.

This new platform will allow apartment complex owners to make short-term rentals and provides automated online compliance, safety, payments, monitoring, and controls.

Pillow previously received a $2.65m funding round led by Homebrew in 2015.

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