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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Student.com Eyes $1 Billion Goal Following Series C+ Funding Boost

February 15, 2019

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Feb 15, 2019--Student.com, the world’s biggest marketplace for student accommodation, has received an additional $10 million funding boost as part of its Series C+, taking the total to $80 million to date. The latest funding, provided by CITIC Capital, comes as Student.com has completed over $600 million in gross booking value to date.

At Student.com 2019 has begun with the continued focus on building enhanced technology to provide the ultimate student accommodation platform - meeting the needs of the modern-day student. Based on user behaviour, during 2019 Student.com will continue to upgrade the platform’s technology solutions including the systemisation of the native app experience, and work to improve the intelligent service level of the platform through application of Artificial Intelligence.

Luke Nolan, Founder and CEO at Student.com comments, “At Student.com we believe that this is just the tip of the iceberg for the student accommodation sector - and its true value sits in the region of $180 billion globally. Following our growth last year, we are looking at hitting the $1 billion completed gross booking value to date by the end of 2019. In order to achieve that we will continue to focus on using technological innovation in the platform to provide a marketplace to meet industry demand - both from a student and landlord perspective. It is encouraging to have the support of investors - such as CITIC Capital - who also see great potential in this market and Student.com ’s future growth.”

Since its establishment in 2011, Student.com has helped tens of thousands of international students find their perfect home abroad. Now listing accommodation for over 1,000 universities in more than 400 cities worldwide, Student.com provides over 1.25 million student beds - having added 250,000 student beds to its marketplace in 2018 alone. Student.com has raised a total of $80 million from investors including VY Capital, Li Ka-Shing’s Horizons Ventures, Expa, Spotify founders Daniel Ek and Martin Lorentzon, Facebook VR’s Hugo Barra, Breyer Capital’s Jim Breyer and other well-known investors in the industry. Student.com also has close partnerships with more than 100 top universities across the world.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190215005038/en/

CONTACT: Holly Forrest

PR and Partnerships Manager

+44 (0)7880 232 293

holly.forrest@student.com

KEYWORD: UNITED ARAB EMIRATES MIDDLE EAST

INDUSTRY KEYWORD: EDUCATION UNIVERSITY PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Student.com

Copyright Business Wire 2019.

PUB: 02/15/2019 03:00 AM/DISC: 02/15/2019 03:01 AM

http://www.businesswire.com/news/home/20190215005038/en