Home New mexico real estate Ember raises $17.4 million under Peter Thiel to make vacation home co-ownership mainstream

Ember raises $17.4 million under Peter Thiel to make vacation home co-ownership mainstream

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SALT LAKE CITY, February 24, 2022 /PRNewswire/ — Ember, a proptech real estate company, is reimagining the vacation home experience through technology-powered condominium, management and concierge services. the $17.4M the funding was led by PayPal co-founder, early Facebook investor and venture capitalist Pierre Thiel. Ember was founded by CEO Kurt Avarel (Canopy, Milbank), CRO James Sukhan (Qualtrics, Podium) and CXO Jeff Lyman (Nike, Vivint). All proven innovators with a collective background in real estate, home building, legal, consumer goods and SaaS, this team developed Ember as a streamlined technology platform for buying and owning luxury vacation properties.

Ember is built on four fundamental pillars: (1) buying and/or building professionally designed, high-end vacation homes in destination locations; (2) create a property-specific LLC so that the house can be purchased in stock by the co-owners at a fraction of the total price of the house; (3) streamline vacation home ownership by removing the burdens of a second home and instead providing high-level property management and a carefully designed app that focuses on the experience; and (4) increase the accessibility of vacation homes to a greater number of people.

“Ember is enabling millions of people to dream of owning a vacation home, and we’re radically simplifying the experience,” said Ember’s CEO. Kurt Avarel. “This idea was born from my personal experience as a co-owner of a houseboat on from utah Lake Powell with your friends and family over the past decade. We recognize that so many families want vacation homes, but their dream home is simply out of reach. Ember intends to make second home ownership accessible, affordable and enjoyable for millions of future second home owners.”

Ember offers single-family vacation home ownership in popular destinations. The Ember condo is not a timeshare. Ember brings together approved homebuyers to collectively own the property. In a one-eighth ownership share, each owner can then use the house exclusively for their enjoyment for up to 45 nights a year.

The Ember mobile app uses a proprietary scheduling algorithm to ensure co-owners have fair and just opportunities to enjoy ownership. The Ember mobile app and website allow buyers and owners to browse vacation properties for sale, view and pay expenses, and access their dedicated Ember Concierge in the marketplace with one touch. With Ember’s end-to-end concierge service, owners spend minimal time on logistics and can focus on the real investment: spending quality time with family and friends.

Although Ember acquires existing properties, Ember is focused on building homes designed for condominiums. On average, Ember homes are between $1.5 and $5 million of the total housing price, with individual shares ranging from $100,000 for $500,000. Homes often feature private amenities such as swimming pools, hot tubs, entertaining areas, as well as value-added perks such as dedicated owner storage, professional interior design, and amenities. high-end appliances and finishes. Ember also takes care of the upkeep and management of the home, for a modest monthly fee, so homeowners enjoy a worry-free, elevated second-home ownership experience without the hassle of cleaning, maintenance and repairs.

Ember is growing rapidly focusing on 20 markets in 10 states with listings now in destinations like Bend, OR; St. George, Utah; Santa Fe, New Mexico; and more. Consumer financing will be available this year through the Ember platform, allowing even more potential buyers to become co-owners of their dream home.

Ember is actively recruiting commercial agents and real estate concierges in the market. Ember also has over a dozen openings Utah– management, engineering, sales and marketing positions within the company.

With more investments on the horizon, this funding includes participation from Pando Ventures and previous investors, including former CEO and founder of Vivint Smart Homes Todd Pedersen, former CEO of Progressive Leasing Ryan Woodley and founder and Chief Innovation Officer of Progressive Leasing Curt Doman.

To find an Ember home or for more information on condominiums, please visit: www.emberhome.com.

About Ember

Ember is a proptech real estate company reimagining the vacation home experience through technology, premium service and condominium ownership. Ember enables the dream of second home ownership for millions of people. Ember’s forward-thinking approach transforms traditional ownership by enabling co-owners to purchase luxury properties, unlocking an opportunity most people previously thought were out of reach. Ember streamlines every step of the vacation home ownership process, from buying to planning every stay with the Ember Owner App and enhances the experience with a personal Ember Concierge in the market who manages everything from services to housekeeping. Ember is simply a better way to own a vacation home. Learn more about EmberHome.com.

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