Homeis adds community tools for Mexican immigrants

Homeis, a startup building networking tools for immigrant communities, officially launched its community for Mexican immigrants this week.

Co-founder and CEO Ran Harnevo (pictured above) previously founded video syndication company 5min, which was acquired by AOL, where he served as the global president of the company’s video division. (AOL also bought TechCrunch and then was acquired, in turn, by Verizon.)

The company’s goal is to create networks that are focused on the needs of specific immigrant communities — starting with Israeli, French and Indian Communities — helping them find things like new friends and job opportunities.

In the launch announcement, the startup says that its Mexican community will “address specific pain points for Mexican immigrants,” for example by helping them find trusted immigration lawyers.

And if building tools for immigrants seems like a political act in 2019, that’s something Harnevo (an Israeli immigrant himself) seems to be embracing.

“It’s our personal mission to empower immigrants, and that has never been more critical,” he said in a statement. “The increased tension and hostility towards immigration has made it clear that tech companies must step up. With the launch of our Mexican community, we are able to share our technology and resources with the largest immigrant community in the U.S. As immigrants ourselves, that means a lot to us.”

Homeis raised a $12 million Series A led by Canaan Partners and Spark Capital earlier this year.

Recycling robots raise millions from top venture firms to rescue an industry in turmoil

The problem of how to find the potential treasure trove hidden in millions of pounds of trash is getting a high-tech answer as investors funnel $16 million into the recycling robots built by Denver-based AMP Robotics.

For recyclers, the commercialization of robots tackling industry problems couldn’t come at a better time. Their once-stable business has been turned on its head by trade wars and low unemployment.

Recycling businesses used to be able to rely on China to buy up any waste stream (no matter the quality of the material). However, about two years ago, China decided it would no longer serve as the world’s garbage dump and put strict standards in place for the kinds of raw materials it would be willing to receive from other countries. The result has been higher costs at recycling facilities, which actually are now required to sort their garbage more effectively.

At the same time, low unemployment rates are putting the squeeze on labor availability at facilities where humans are basically required to hand-sort garbage into recyclable materials and trash.

Given the economic reality, recyclers are turning to AMP’s technology — a combination of computer vision, machine learning and robotic automation to improve efficiencies at their facilities.

trash cans

Photo courtesy of Flickr/Abulla Al Muhairi

That’s what attracted Sequoia Capital to lead the company’s latest investment round — a $16 million Series A investment the company will use to expand its manufacturing capacity and boost growth as it looks to expand into international markets.

“We are excited to partner with AMP because their technology is changing the economics of the recycling
industry,” said Shaun Maguire, partner at Sequoia, in a statement. “Over the last few years, the industry has had their margins squeezed by labor shortages and low commodity prices. The end result is an industry proactively searching for cost-saving alternatives and added opportunities to increase revenue by capturing more high-value recyclables, and AMP is emerging as the leading solution.”

The funding will be used to “broaden the scope of what we’re going after,” says chief executive Matanya Horowitz. Beyond reducing sorting costs and improving the quality of the materials that recycling facilities can ship to buyers, the company’s computer vision technologies can actually help identify branded packaging and be used by companies to improve their own product life cycle management.

“We can identify… whether it’s a Coke or Pepsi can or a Starbucks cup,” says Horowitz. “So that people can help design their product for circularity… we’re building out our reporting capabilities and that, to them, is something that is of high interest.”

That combination of robotics, computer vision and machine learning has potential applications beyond the recycling industry as well, according to Horowitz. Automotive scrap and construction waste are other areas where the company has seen interest for its combination of software and hardware.

Meanwhile, the core business of recycling is picking up. In October, the company completed the installation of 14 robots at Single Stream Recyclers in Florida. It’s the largest single deployment of robots in the recycling industry and the robots, which can sort and pick twice as fast as people with higher degrees of accuracy, are installed at sorting lines for plastics, cartons, fiber and metals, the company said.

AMP’s business has two separate revenue streams — a robotics as a service offering and a direct sales option — and the company has made other installations at sites in California, Colorado, Indiana, Minnesota, New York, Pennsylvania, Texas, Virginia and Wisconsin.

The traction the company is seeing in its core business was validating for early investors like BV, Closed Loop Partners, Congruent Ventures and Sidewalk Infrastructure Partners, the Alphabet subsidiary’s new spin-out that invests in technologies to support new infrastructure projects.

For Mike DeLucia, the Sidewalk Infrastructure Partners principal who led the company’s investment into AMP Robotics, the deal is indicative of where his firm will look to commit capital going forward.

“It’s a technology that enables physical assets to operate more efficiently,” he says. “Our goal is to find the technologies that enable really exciting infrastructure projects, back them and work with them to deliver projects in the physical world.”

Investors like DeLucia and Abe Yokell, from the investment firm Congruent Ventures, think that recycling is just the beginning. Applications abound for AMP Robotic’s machine learning and computer vision technologies in areas far beyond the recycling center.

“When you think about how technology is able to impact the built environment, one area is machine vision,” says Yokell. “[Machine learning] neural nets can apply to real-world environments, and that stuff has gotten cheaper and easier to deploy.”

Moveworks snags $75M Series B to resolve help desk tickets with AI

Moveworks, a startup using AI to help resolve Help Desk tickets in an automated fashion, announced a $75 million Series B investment today.

The round was led by Iconiq Capital, Kleiner Perkins and Sapphire Ventures. Existing investors Lightspeed Venture Partners, Bain Capital Ventures, and Comerica Bank also participated. The round also included a personal investment from John W. Thompson, who is a partner at LightSpeed Venture Partners and chairman at Microsoft. Today’s investment brings the total raised to $105 million, according to the company.

That’s a lot of money for an early-stage company, but CEO and co-founder Bhavin Shah says his company is solving a common problem using AI. “Moveworks is a machine learning platform that uses natural language understanding to take tickets that are submitted by employees every day to their IT teams for stuff they need, and we understand [the content of the tickets], interpret them, and then we take the actions to resolve them [automatically],” Shah explained.

He said the company decided to focus on help desk tickets because they saw data when they were forming the company that suggested a common set of questions, and that would make it easier to interpret and resolve these issues. In fact, they are currently able to resolve 25-40% of all tickets autonomously.

He says this should lead to greater user satisfaction because some of their problems can be resolved immediately, even when IT personnel aren’t around to help. Instead of filing a ticket and waiting for an answer, Moveworks can provide the answer, at least part of the time, without human intervention.

Aditya Agrawal, a partner at Iconiq, says that the company really captured his attention. “Moveworks is not just transforming IT operations, they are building a more modern and enlightened way to work. They’ve built a platform that simplifies and streamlines every interaction between employees and IT, enabling both to focus on what matters,” he said in a statement.

The company was founded in 2016, and in the early days was only resolving 2% of the tickets autonomously, so it has seen major improvement. It already has 115 employees and dozens of customers (although Shah didn’t want to provide an exact number).

48 hours left to save up to €500 on passes to Disrupt Berlin 2019

Livin’ la vida loca pretty much sums up the early-stage startup life. We understand just how crazy-busy life gets, but we’re here to remind all the last-minute mavens that you have just 48 hours to take advantage of early-bird prices to Disrupt Berlin 2019. Depending on the type of pass you buy, you can save up to €500.

The early-bird pricing ends at 11:59 p.m. (CEST) this Friday, 15 November. Hit the brakes on livin’ la vida loca long enough to beat the deadline, buy your early-bird pass and save.

Now that you’ve saved a tidy sum, why not get a jump on planning your time at Disrupt Berlin? If networking’s your game, you’ll want to take advantage of CrunchMatch. Our free business-matching platform combines the best of two worlds — automation and curation — to help you zero in the people who align with your business goals. Cut through the noise and spend your valuable time talking to the right people. Read about how CrunchMatch works.

Curious about the latest innovations happening across the tech spectrum? Set your GPS for Startup Alley, our exhibition floor where you’ll find hundreds of early-stage startups displaying their products, platforms and services. Whether you’re an investor, founder, developer — or play some other role in the startup world — you’ll find something new and exciting in Startup Alley.

When you’re in Startup Alley, be sure to check out our TC Top Picks. TechCrunch editors chose these early-stage startups because they represent the best of their respective tech categories. Which startups won this coveted designation? Meet our TC Top Picks for Disrupt Berlin 2019.

Want to see top-notch startups in action? Grab a seat for the world-famous, always-epic Startup Battlefield pitch competition. Between 15-20 teams of startup founders will pitch to a tough panel of veteran VCs and technologists. Every competitor has what it takes, but which one will take it all — the Disrupt Cup, $50,000 in equity-free cash and intense investor and media exposure?

There’s more to experience at Disrupt Berlin, including interviews, fireside chats and panel discussions with world-class speakers. You can go deeper on a specific topic by attending Q&A Sessions, and you can check out what some of the world’s best coders created at the Hackathon. The finalists will pitch their products on the Extra Crunch Stage. Don’t miss what matters most to you — check out the Disrupt Berlin agenda.

Disrupt Berlin 2019 takes place on 11-12 December. You have only 48 hours left to get the best possible price on tickets. You can live la vida loca and still beat the deadline. Buy your early-bird pass before Friday, 15 November at11:59 p.m. (CEST).

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team by filling out this form.

Eigen nabs $37M to help banks and others parse huge documents using natural language and ‘small data’

One of the bigger trends in enterprise software has been the emergence of startups building tools to make the benefits of artificial intelligence technology more accessible to non-tech companies. Today, one that has built a platform to apply power of machine learning and natural language processing to massive documents of unstructured data has closed a round of funding as it finds strong demand for its approach.

Eigen Technologies, a London-based startup whose machine learning engine helps banks and other businesses that need to extract information and insights from large and complex documents like contracts, is today announcing that it has raised $37 million in funding, a Series B that values the company at around $150 million – $180 million.

The round was led by Lakestar and Dawn Capital, with Temasek and Goldman Sachs Growth Equity (which co-led its Series A) also participating. Eigen has now raised $55 million in total.

Eigen today is working primarily in the financial sector — its offices are smack in the middle of The City, London’s financial center — but the plan is to use the funding to continue expanding the scope of the platform to cover other verticals such as insurance and healthcare, two other big areas that deal in large, wordy documentation that is often inconsistent in how its presented, full of essential fine print, and is typically a strain on an organisation’s resources to be handled correctly, and is often a disaster if it is not.

The focus up to now on banks and other financial businesses has had a lot of traction. It says its customer base now includes 25% of the world’s G-SIB institutions (that is, the world’s biggest banks), along with others who work closely with them like Allen & Overy and Deloitte. Since June 2018 (when it closed its Series A round), Eigen has seen recurring revenues grow sixfold with headcount — mostly data scientists and engineers — double. While Eigen doesn’t disclose specific financials, you can the growth direction that contributed to the company’s valuation.

The basic idea behind Eigen is that it focuses what co-founder and CEO Lewis Liu describes as “small data”. The company has devised a way to “teach” an AI to read a specific kind of document — say, a loan contract — by looking at a couple of examples and training on these. The whole process is relatively easy to do for a non-technical person: you figure out what you want to look for and analyse, find the examples using basic search in two or three documents, and create the template which can then be used across hundreds or thousands of the same kind of documents (in this case, a loan contract).

Eigen’s work is notable for two reasons. First, typically machine learning and training and AI requires hundreds, thousands, tens of thousands of examples to “teach” a system before it can make decisions that you hope will mimic those of a human. Eigen requires a couple of examples (hence the “small data” approach).

Second, an industry like finance has many pieces of sensitive data (either because its personal data, or because it’s proprietary to a company and its business), and so there is an ongoing issue of working with AI companies that want to “anonymise” and ingest that data. Companies simply don’t want to do that. Eigen’s system essentially only works on what a company provides, and that stays with the company.

Eigen was founded in 2014 by Dr. Lewis Z. Liu (CEO) and Jonathan Feuer (a managing partner at CVC Capital technologies who is the company’s chairman), but its earliest origins go back 15 years earlier, when Liu — a first-generation immigrant who grew up in the US — was working as a “data entry monkey” (his words) at a tire manufacturing plant in New Jersey, where he lived, ahead of starting university at Harvard.

A natural computing whizz who found himself building his own games when his parents refused to buy him a games console, he figured out that the many pages of printouts that he was reading and re-entering into a different computing system could be sped up with a computer program linking up the two. “I put myself out of a job,” he joked.

His educational life epitomises the kind of lateral thinking that often produces the most interesting ideas. Liu went on to Harvard to study not computer science, but physics and art. Doing a double major required working on a thesis that merged the two disciplines together, and Liu built “electrodynamic equations that composed graphical structures on the fly” — basically generating art using algorithms — which he then turned into a “Turing test” to see if people could detect pixelated actual work with that of his program. Distil this, and Liu was still thinking about patterns in analog material that could be re-created using math.

Then came years at McKinsey in London (how he arrived on these shores) during the financial crisis where the results of people either intentionally or mistakenly overlooking crucial text-based data produced stark and catastrophic results. “I would say the problem that we eventually started to solve for at Eigen became for tangible,” Liu said.

Then came a physics PhD at Oxford where Liu worked on X-ray lasers that could be used to bring down the complexity and cost of making microchips, cancer treatments and other applications.

While Eigen doesn’t actually use lasers, some of the mathematical equations that Liu came up with for these have also become a part of Eigen’s approach.

“The whole idea [for my PhD] was, ‘how do we make this cheeper and more scalable?'” he said. “We built a new class of X-ray laser apparatus, and we realised the same equations could be used in pattern matching algorithms, specifically around sequential patterns. And out of that, and my existing corporate relationships, that’s how Eigen started.”

Five years on, Eigen has added a lot more into the platform beyond what came from Liu’s original ideas. There are more data scientists and engineers building the engine around the basic idea, and customising it to work with more sectors beyond finance. 

There are a number of AI companies building tools for non-technical business end-users, and one of the areas that comes close to what Eigen is doing is robotic process automation, or RPA. Liu notes that while this is an important area, it’s more about reading forms more readily and providing insights to those. The focus of Eigen in more on unstructured data, and the ability to parse it quickly and securely using just a few samples.

Liu points to companies like IBM (with Watson) as general competitors, while startups like Luminance is another taking a similar approach to Eigen by addressing the issue of parsing unstructured data in a specific sector (in its case, currently, the legal profession).

Stephen Nundy, a partner and the CTO of Lakestar, said that he first came into contact with Eigen when he was at Goldman Sachs, where he was a managing director overseeing technology, and the bank engaged it for work.

“To see what these guys can deliver, it’s to be applauded,” he said. “They’re just picking out names and addresses. We’re talking deep, semantic understanding. Other vendors are trying to be everything to everybody, but Eigen has found market fit in financial services use cases, and it stands up against the competition. You can see when a winner is breaking away from the pack and it’s a great signal for the future.”

Yodel.io is a digital receptionist for SMBs taking calls

Yodel.io, an Austria-founded startup that’s developed a “digital receptionist” to help SMBs and other small teams handle in and outbound phone-calls, has picked up $1 million in “pre-seed” funding. It brings total funding to just over $1.8 million.

Backing this round is EXF Alpha, the fund of the European Super Angels Club, and various other unnamed European angel investors. This investment will be used to establish a New York office, in addition to the startup’s existing presence in Vienna, London and San Francisco.

In development since 2016 and a Seedcamp alumni, Yodel’s tech acts as a digital phone receptionist that plugs into popular team chat applications such as Slack, Zapier, and Drift to help SMBs handle calls more efficiently. The idea is to provide these small and medium-sized businesses with call-handling technology more akin to that typically available to larger enterprises but at a price they can afford.

It is similar thinking to Google’s recently launched CallJoy, although Yodel argues its product is better and says it is already used by over 2,000 SMBs in 30 languages across 47 countries.

Yodel and CallJoy both offer the ability to transcribe calls, manage inbounds through “human-like” answering, log calls, tag calls and record calls.

However, in addition, Yodel says its tech also allows for customisable canned responses, and that its AI is able to ask for a reason for the call and then process calls accordingly. Other features include call conferencing, and the ability to send and receive SMS messages.

“SMBs are stuck with old school phone systems that lack flexibility,” explain two of Yodel’s co-founders, Nina Hödlmayr and Mike Heininger, in an email. “At the same time, customers of SMBs don’t receive the support they expect via the phone, they want the processes and systems of the multinationals, without considering the backend costs.

The pair argue that by using Yodel, less well-resourced companies can offer voice calls for customers, which they argue is still the most direct channel. “This is an effective way of increasing sales and having fewer unsatisfied customers,” they tell TechCrunch.

Yodel.io Slack integration: waiting inbound call

“The caller receives a better experience by being greeted from a digital voice assistant and getting forwarded to the right team member. The company views all information in one place without needing to switch tools. This is also a main benefit for distributed and modern teams. Each bit of information is shared and can be collaborated on which improves decisions and overall internal knowledge”.

Operating a typical SaaS model, Yodel charges per “seat” per month. This includes a phone number per user, unlimited inbound minutes and call credit for outbound calls. There are additional fees for more outbound minutes and additional phone numbers. Depending on features the subscription is with $25 per month or $35 per month.

Johannes Reck from GetYourGuide to talk about reaching unicorn status at Disrupt Berlin

Earlier this year, GetYourGuide raised a gigantic $484 million funding round with SoftBank’s Vision Fund leading the round. Now that the German startup has reached a valuation well over the $1 billion mark, it’s time to look back at the company’s impressive trajectory. That’s why I’m excited to announce that GetYourGuide co-founder and CEO Johannes Reck is joining us at TechCrunch Disrupt Berlin.

At first, people started booking flights and train tickets on online platforms. Then, they started booking hotel rooms and Airbnb apartments. But going somewhere is just step one. You also need to figure out what you’re going to do when you arrive in a city you don’t know.

GetYourGuide lets you book experiences, from sightseeing tours to tickets for attractions and others. Behind the scene, the company operates a marketplace that matches third parties with travelers.

But the startup now wants to go one step further and build a catalog of “Originals” tour experiences, such as a ‘GetYourGuide Instagram Tour of Bali’, which is probably a lot more appealing to young travelers compared to traditional travel agencies.

GetYourGuide’s metrics are mindboggling. Back in May, the company offered 50,000 experiences and had sold 25 million tickets in total. And I’m sure those numbers are even higher today.

The startup has a shot at becoming a cultural phenomenon and influence the way we travel — just like Airbnb did with its peer-to-peer rental platform. And I can’t wait to hear Johannes Reck tell us how to grow such a big marketplace with everyone’s best interests in mind.

Buy your ticket to Disrupt Berlin to listen to this discussion — and many others. The conference will take place December 11-12.

In addition to panels and fireside chats, like this one, new startups will participate in the Startup Battlefield to compete for the highly coveted Battlefield Cup.


Johannes Reck is the Chief Executive Officer at GetYourGuide. He leads the company’s long-term vision and strategy.

Johannes co-founded GetYourGuide in 2009 while attending the Swiss Federal Institute of Technology, and has grown the company into the leading booking platform for incredible travel experiences.

Under Johannes’ leadership, over 30 million tickets have been booked to date via the GetYourGuide website, mobile app, and partnership network. GetYourGuide has raised over $650M from investors such as the SoftBank Vision Fund, Battery Ventures and KKR. Johannes leads GetYourGuide’s 550-person global team from its headquarters in Berlin, Germany.

Johannes originally hails from Cologne, Germany and holds an M.Sc. in Biochemistry from the Swiss Federal Institute of Technology.

Social network for motherhood Peanut raises $5M, expands to include women trying to conceive

Peanut, an app that began its life as a match-maker for finding new mom friends but has since evolved into a social network of more than a million women, announced today it has closed on $5 million in new funding and is expanding its focus to reach women who are trying to conceive. The round was led by San Francisco and London-based VC firm Index Ventures, also backers of Dropbox, Facebook and Glossier, among others.

Other Peanut investors include Sweet Capital, Greycroft, Aston Kutcher’s Sound Ventures, Female Founders Fund, Felix Capital and Partech. To date, Peanut has raised $9.8 million.

The idea for Peanut arose from co-founder Michelle Kennedy’s personal understanding of how difficult it was to forge female friendships after motherhood. As the former deputy CEO at dating app Badoo and an inaugural board member at Bumble, she initially saw the potential for Peanut as a friendship-focused matching app with swipe mechanisms similar to popular dating apps.

Over the past couple of years, however, Kennedy realized that what women needed was more of a community space. The team then built out the app’s features accordingly, with the launch of its Q&A forums, Peanut Pages, last year, and more recently, with Peanut Groups. The latter has now become Peanut’s main use case, with 60% of users taking advantage of the app’s community features and just 40% using the friend-finding functions.

“Community is definitely becoming a very important part of what we do. It’s where we see the users that we deem to be power users — women who are using Peanut for hours every day — they’re very much within the community section,” explains Kennedy. “We see that growth there and it actually guides the product. So we’re taking the behaviors that we see and letting that inform our roadmap,” Kennedy says.

Since around November 2018, Peanut has been growing by 20% month-over-month, as more women discover Peanut’s private and ad-free alternative to Facebook Groups. On Peanut, users are verified (by selfies!), and people have the sorts of discussions that don’t really take place in other social apps.

Even Kennedy admits she was surprised at first by what women were talking about in the app.

“The conversations were much, much more personal and intimate and more related to their lives. So whether that had to do with their sex life or relationships, it was on a deeper level,” she says. “These are conversations that women simply can’t have anywhere else. Of course, they’re not happening in Facebook Groups…these are very intimate and self-reflective moments. And [women] want to do that in a private setting in a private social network,” Kennedy adds.

The new funding, in part, will be used to grow Peanut’s 16-person team to 22 this year, which will then double next year.

In addition, Peanut is expanding access to women who are trying to conceive, with the launch of the Trying To Conceive (TTC) community. This will offer a separate sign-up experience and access to a dedicated network of women, where members can candidly discuss the topic and ask questions. Within TTC, members can also create their own groups — like one for women on their fifth round of IVF, for example — to have conversations with others who are at the same place in their journey.

The community, today, won’t point women to other fertility-focused apps or related health services, Kennedy says, though she sees the potential for strategic partnerships further down the road. In the near-term, however, Peanut plans to generate revenue by way of the freemium model and micropayments.

“We’re incredibly excited to partner with Michelle to grow Peanut from the essential platform for mothers it is today, to a social network for women globally. Peanut is a true companion for women, bringing them together when they need each other the most,” says Hannah Seal, principal at Index Ventures, about the firm’s investment. “We’ve been impressed with the response Peanut has received since launch and look forward to supporting the team as it enters into new areas such as fertility, and expands globally.”

“We want to shine a light on an often silent struggle. What has always been Peanut’s point of difference is enabling conversations women feel unable to have on any other platform. Providing a safe, inclusive space for women to discuss fertility is a natural progression for our brand as we continue to support women throughout each life stage. No woman should ever feel lonely, isolated or muted on such an important issue,” Kennedy says.

Indonesia’s Travelio raises $18M to help tenants rent apartments

More than 50% of residential apartments and other real estate properties in Jakarta are currently vacant, according to official estimates. A startup that is attempting to make it easier for tenants to rent these properties in Jakarta and other places in Indonesia said on Thursday that it has closed a new financing round.

Travelio has raised $18 million in its Series B financing round led by Singapore-based Pavilion Capital and Gobi Partners, the four-year-old startup said. Some existing investors also participated in the round.

The startup works with individual apartment owners and property dealers to allow tenants to find and rent apartments. People can book an apartment for a day to months, Christina Suriadjaja, cofounder and chief strategy officer of Travelio, told TechCrunch in an interview.

Travelio has over 4,000 properties exclusively signed up with the platform, she said. The startup takes between 20% to 35% of the revenue cut from its property owner partners, she explained.

Typically, it would cost a little more than $350 for someone to rent an apartment for a month from Travelio. In Indonesia, currently those looking for an apartment from property dealers and individual owners have to make a down payment of 20% and pay an advanced security deposit for more than a year. Through its pricing structure, Travelio is attempting to address this issue as well.

A number of startups including RedDoorz, Oyo, and Airbnb operate in Indonesia, but because they are focused on providing rooms for a day or two like hotels, this differentiates them from Tavelio. Suriadjaja said Airbnb, which lists properties of Tavelio, is more of a partner than a competitor. “Our competitors are property dealers,” she said.

In addition to offering these fully furnished apartments on rents, Tavelio also takes care of house cleaning and maintenance of these properties.. “In the coming months, we will work on expanding the services we offer,” she said. Some of the services it is exploring include interior design, daily necessities, financing, payments and other logistic-related offerings.

The startup aims to have 20,000 apartments on its platform in one year. “With Indonesia’s rising middle class population, Travelio is well-positioned to serve the growing demand for temporary housing, urbanization and affordable living options,” the startup said.

Indonesia’s Travelio raises $18M to help tenants rent apartments

More than 50% of residential apartments and other real estate properties in Jakarta are currently vacant, according to official estimates. A startup that is attempting to make it easier for tenants to rent these properties in Jakarta and other places in Indonesia said on Thursday that it has closed a new financing round.

Travelio has raised $18 million in its Series B financing round led by Singapore-based Pavilion Capital and Gobi Partners, the four-year-old startup said. Some existing investors also participated in the round.

The startup works with individual apartment owners and property dealers to allow tenants to find and rent apartments. People can book an apartment for a day to months, Christina Suriadjaja, cofounder and chief strategy officer of Travelio, told TechCrunch in an interview.

Travelio has over 4,000 properties exclusively signed up with the platform, she said. The startup takes between 20% to 35% of the revenue cut from its property owner partners, she explained.

Typically, it would cost a little more than $350 for someone to rent an apartment for a month from Travelio. In Indonesia, currently those looking for an apartment from property dealers and individual owners have to make a down payment of 20% and pay an advanced security deposit for more than a year. Through its pricing structure, Travelio is attempting to address this issue as well.

A number of startups including RedDoorz, Oyo, and Airbnb operate in Indonesia, but because they are focused on providing rooms for a day or two like hotels, this differentiates them from Tavelio. Suriadjaja said Airbnb, which lists properties of Tavelio, is more of a partner than a competitor. “Our competitors are property dealers,” she said.

In addition to offering these fully furnished apartments on rents, Tavelio also takes care of house cleaning and maintenance of these properties.. “In the coming months, we will work on expanding the services we offer,” she said. Some of the services it is exploring include interior design, daily necessities, financing, payments and other logistic-related offerings.

The startup aims to have 20,000 apartments on its platform in one year. “With Indonesia’s rising middle class population, Travelio is well-positioned to serve the growing demand for temporary housing, urbanization and affordable living options,” the startup said.