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| Company type | Private |
|---|---|
| Industry | International real estate, Student Accommodation |
| Founded | Aug 06, 2016 |
| Founder | Saurabh Goel (CEO) Madhur Gujar (CBO) |
| Headquarters | Pune, Maharashtra, India |
Area served | United Kingdom, Ireland, USA, Australia, Europe |
| Services | accommodation |
Number of employees | 600+ (Mar 2024) |
| Website | amberstudent |
Amber is a student accommodation booking platform that serves over 2 million students worldwide and helps students find residential accommodation. The company was launched in 2016 in Mumbai, Maharashtra.[1]
Amber differentiates itself from other real estate marketplaces with a narrowed focus on the student housing market, connecting students to global accommodation providers.[2]
The company has established partnerships with universities, property management groups, and study-abroad organizations.[3][4]
Background edit
amber, originally known as AmberStudent, was founded in 2016 by Saurabh Goel and Madhur Gujar, alumni of IIT Kharagpur. Saurabh Goel had worked at Housing.com and co-founded Startuptoday,[5] while Madhur Gujar had worked in Axtria consulting and co-founded Doubtbox.com.[6]
The inception of amber stemmed from the founders' recognition of a gap in the student accommodation market, when they witnessed the challenges their friends faced in finding suitable student housing abroad.[7]
In 2017, the company scaled its operations to the top study-abroad destinations, USA, Canada, UK and Australia.[3] In 2021, the company was rebranded as "amber" from AmberStudent.[8]
amber+ edit
In 2022, amber introduced amber+, a new product suite providing additional services for international students. It provides post-accommodation services such as assistance in setting up student bank accounts, loan application support, access to discounted flight tickets, and internship opportunities, among others.[9][10]
amber App edit
In September 2023, amber launched its student accommodation app, designed to streamline and personalize the housing search for students.[11]
In February 2024, amber announced a successful funding round, securing USD 21 million (approximately Rs 175 crore). This round was led by Gaja Capital, with participation from Lighthouse Canton and Stride. The Rainmaker Group served as the exclusive financial advisor for this transaction.[12][13][14]
Timeline edit
- 2016: Launch of student accommodation services.
- 2017: Expansion to the UK and Australia.
- 2019: $13 million in gross booking value.
- 2021: Team expanded to 130+ employees.
- 2022: 1000% growth in team and operations; $600 million gross booking value with 40% net margin.
- 2022: Introduction of amber+
- 2023: Team expanded 600+ employees.
- 2023: Launch of the amber student accommodation app.
- 2024: Successful institutional funding round, securing USD 21 million (approximately Rs 175 crore).
Awards edit
- High Growth Companies Asia Pacific 2020 by Financial Times.[15]
References edit
- ^ "UK's 'juggernaut' student-housing market attracts Asian capital". South China Morning Post. 27 August 2023.
- ^ Alibabic, Lana (1 December 2020). "7 Type of Accommodation the Amber Student Seeks". EDM Chicago.
- ^ a b "Student housing investments jumped in 2022 but still lag behind demand". ICEF Monitor. 22 March 2023.
- ^ "Amberstudent". Timeshighereducation. 26 May 2021.
- ^ Modgil, Shweta (25 October 2016). "The 12 Founders Of Housing: Where Are They Now?". Inc42 Media.
- ^ "Indian students need to work on soft skills, experts opine". The Indian Express. 24 January 2024.
- ^ "1/5 of Glasgow students yet to secure accommodation for the upcoming academic year". University of Glasgow. 31 July 2023.
- ^ "Amber Student in advanced talks for $20 million venture round led by prominent VC firm". propnewstime.com.
- ^ "News from the world of Education: January 9, 2023". The Hindu. 9 January 2023.
- ^ "AmberStudent launches One-Stop Study Abroad Solution with AmberPlus". ANI.
- ^ "amber Launches Student Accommodation App: Discover, Shortlist, Book with Ease - Articles". ZEE5. 28 September 2023.
- ^ "Student accommodation platform Amber raises USD 21 mln". PTI.
- ^ Rajan, Jessica (12 February 2024). "Student accommodation platform Amber raises $21 million led by Gaja Capital". The Economic Times.
- ^ "Student-accommodation platform Amber to utilise $21 mn fundraise for global expansion, product development". CNBCTV18. 19 February 2024.
- ^ "FT ranking: Asia-Pacific High-Growth Companies 2022". Financial Times. 17 March 2022.