SAN FRANCISCO—RentPath, the premier vertical search company for apartment and home renters, has invested $13 million to acquire San Francisco-based Lovely, a start-up whose mission is to provide the most comprehensive and transparent rental experience for renters, property owners and managers nationwide.
Lovely is the first mobile-powered end-to-end rental marketplace where renters can search, apply and pay rent directly from their mobile device and the web. “Lovely has done an amazing job at designing products for desktop and mobile devices that simplify the renting process and offer innovative solutions for renters and property managers,” according to Charles Stubbs, CEO of RentPath. “This acquisition illustrates RentPath’s commitment to delivering the best consumer experience and redefining how renters find the perfect place to live. We are excited to welcome Lovely to the RentPath family.”
Blake Pierson, CEO and co-founder of Lovely, said, “We are thrilled to join RentPath. With their help and support, we look forward to expanding the mission of Lovely to the rest of the RentPath family of sites and easing the pain points for millions of renters nationwide.”
Pierson added, “With Lovely’s long-term strategic vision completely aligned with RentPath’s – to help renters find the perfect place to live – we are excited to work with Charles and his team to create products that transform and redefine the rental space.”
Lovely co-founder Doug Wormhoudt added, “I could not be more proud of what my team has accomplished and what we have built together. After meeting another amazing team at RentPath I became convinced that the combination of our two organizations would be unstoppable. Today marks a new chapter in our shared vision for the future of apartment rentals.”
Lovely will continue to operate out of San Francisco under the leadership of Pierson and Wormhoudt.