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Thursday, Dec 7, 2023

RadPad Nabs $2 Million

Los Angeles mobile rental marketplace RadPad has raised $2 million in capital led by SG VC in Santa Barbara, bringing its total amount raised to $3.5 million.

Existing investors Social Leverage in Phoenix and Michael Huffington also participated in the round.

RadPad co-founder and Chief Executive Jonathan Eppers said in a statement that the company turned down two acquisition offers in advance of the funding.

“We weren’t thinking about raising money this summer, but the acquisition offers presented us an opportunity to take in more capital very quickly at a value we felt was very fair,” Eppers said.

Founded in 2013, the company says more than 63,000 renters use its service every week to find an apartment or home among its more than 600,000 listings in cities including Los Angeles, Chicago and Washington D.C.

RadPad said it will use the money to develop new features and make key hires in technology and operations.

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