Ember Raises $17.4 Million in Funding Led by Peter Thiel

Ember is a proptech company that uses technology, white-glove service, and co-ownership to reimagine the vacation home experience.

Fremont, CA: Ember, a proptech company, is reimagining the vacation home experience through co-ownership fueled by technology, management, and concierge services. Peter Thiel, co-founder of PayPal, early Facebook investor, and venture capitalist, led the $17.4 million funding round. CEO Kurt Avarell (Canopy, Milbank), CRO James Sukhan (Qualtrics, Podium), and CXO Jeff Lyman founded Ember (Nike, Vivint). This team, comprised of proven innovators with real estate, home building, legal, consumer goods, and SaaS, created Ember as a streamlined technology platform for purchasing and owning a luxury vacation property.

Ember is built on four core pillars:

• Purchasing and building high-end, professionally designed vacation homes in destination locations.

• Forming a property-specific LLC so that co-owners can purchase the home in shares at a fraction of the total home price.

• Streamlining vacation home ownership by removing the burdens of a second home instead of providing white-glove property management and a thoughtfully designed app that focuses on the experience.

"Ember is enabling millions of people to realise their dream of vacation homeownership, and we're making the process radically simple," said Ember CEO Kurt Avarell. "This concept arose from my personal experience co-owning a houseboat with friends and family on Utah's Lake Powell for the past decade. We understand that many families want vacation homes, but their ideal home is out of reach. Ember's goal is to make second home ownership accessible, affordable, and enjoyable for millions of would-be second homeowners."

The Ember mobile app employs a proprietary scheduling algorithm to ensure that all co-owners have equal and fair access to the property. In addition, buyers and owners can use the Ember mobile app and website to search for vacation properties for sale, view and pay expenses, and get one-touch access to their dedicated, in-market Ember Concierge.

Despite the fact that Ember acquires existing properties, the company's primary focus is on building homes for co-ownership. Ember homes typically range in price from $1.5 million to $5 million, with individual shares ranging from $100,000 to $500,000. Private amenities such as pools, hot tubs, and entertainment areas are frequently included, and value-added features include dedicated owner storage, professional interior design, and high-end appliances and finishes. Ember also handles home maintenance and management for a low monthly fee, allowing homeowners to enjoy an elevated, worry-free second homeownership experience free of the hassles of cleaning, maintenance, and repairs.

Ember is currently looking for in-market sales agents and property concierges. Ember also has several open positions in Utah in management, engineering, sales, and marketing.

This funding includes participation from Pando Ventures and prior investors such as Todd Pedersen, former CEO and Founder of Vivint Smart Homes, Ryan Woodley, Founder and Chief Innovation Officer of Progressive Leasing, and Curt Doman, Founder and Chief Innovation Officer of Progressive Leasing.

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