ROOM8, a new app optimizing co-living through roommate matching and apartment search services, announces capabilities to provide solutions to renters during the COVID-19 crisis and help them avoid defaulting on rent. The new features include in-app audio and video calling capabilities, as well as a partnership with Google Street View Trusted Agency, LCP360 to provide immersive 360 virtual apartment tours, drone photography and built-in virtual meetings with leasing professionals. With skyrocketing unemployment rates caused by COVID-19 business closures, many renters need to reevaluate their current living situations by downsizing or finding roommates to share the financial burden. During a time of shelter in place orders and quarantine, ROOM8’s new capabilities will help users navigate the intimate process of vetting potential roommates and looking for apartments virtually from the comfort and safety of their homes.
ROOM8 uses a proprietary roommate-matching algorithm to connect users, recommend apartments and meet rising trends in co-living. Similar to a dating app in concept, the iOS and Android mobile app recommends compatible roommates and apartments at no cost to users. The app allows users to browse potential roommate profiles, safely and securely video-chat with other users, review a real-time curated inventory of apartments and take virtual tours with landlords. All matching and communication is done in-app, so users’ personal information is kept private and secure. As an added benefit, ROOM8 users can verify their account using their work or college email address through the app and match with other verified users. Users connecting with potential roommates are doing so without leaving their homes during COVID-19 self-quarantines. The app is focused on helping renters continue their search for their ideal co-living arrangement during the period of social distancing.
“We’re using AI/IoT tech to provide renters with a stable matching market for roommates and to ensure a safe search for a place, which can now all be done virtually and safely using our platform,” said Dan Mathews, CTO of ROOM8. “So many people have lost their jobs or been furloughed during this pandemic and they are now in need of new living arrangements and roommates to share housing costs. It can take months to find the right co-living arrangement during normal times, let alone during a time with stay at home orders and social distancing. ROOM8 is here to help ease renters’ concerns during this uncertain time.”
ROOM8 has offices in San Francisco and Scottsdale, but is available to users in all major cities nationwide through the App Store and Google Play. Unlike other co-living platforms and roommate matching apps, ROOM8 provides user verification and partners directly with property management companies to offer trusted listings in real time. The app is free to use for both potential renters and for property managers to post listings.
The startup has already found support from powerful investment partners who share the company’s vision for improving fair and equitable access to affordable financial tools to Millennial and Gen Z renters globally. ROOM8 has raised venture funding from Storm Ventures, Avanta Ventures, Alpana Ventures, and Plug and Play Ventures.
ROOM8 is a data-driven company with an AI heart, helping Millennial and Gen-Z renters on their path to the perfect rental. We’ve put our signature roommate-matching technology to work, streamlining the rental experience and improving fair and equitable access to affordable financial tools. Matching with roommates and discovering the ideal home from our highly curated inventory of rentals has never been more natural. Without hoops or hassles, ROOM8 has taken the stress out of finding your next home, letting renters start living better lives sooner.