Swimply Net Worth: Funding and Revenue

swimply net worth

Swimply is an internet rental service for home swimming pools. Swimming pools that are owned by homeowners may be rented out on an hourly basis to individuals or organisations. Reservations can be made using the Swimply website or mobile app for Android or iPhone.

The Swimply platform is used for communication, amenity selection, and payment. A $1,000,000 insurance policy protects hosts in the United States. Swimply is currently active in Australia, Canada, and the United States.

All About Swimply

Name:                Swimply
Founder:Bunim Laskin
Type of site:Private
Based in:United States, Australia, Canada
Key people:Bunim Laskin (Founder & CEO)Weinberger (Co-Founder and COO)
Industry:Online Marketplace
Launched Date:June 2018
Swimply Net Worth 2022:$10 Million

The Owner Story

Swimply Net Worth

When he was 20 years old, Bunim Laskin saw his neighbor’s new pool and had the idea. He rented their pool, which assisted with the cost of pool maintenance.

After identifying commercial potential, Bunim established Swimply in the summer of 2018. He started looking for nearby swimming pools using satellite images from Google Earth.

The company started off with a total pre-seed capital of more than $1 million. After Swimply went live, it immediately expanded to over 30 pools and 400 reservations, and shortly after that, Laskin was highlighted on MSNBC.

He discontinued his undergraduate studies later this year in order to focus on his business. In Australia, Swimply debuted in November of this year.

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Appearance in the Shark Tank

Swimply Shark Tank

Bunim arranged for Swimply to locate a financier during Season 11 of Shark Tank so that he could meet his $239 million projections.

Although they have expanded to other locations and are looking for investors, they have not yet discovered a shark deal.

Initial Funding and Growth

Swimply

In addition to $1,200,000 in an initial seed round, Laskin also got $30,000 from relatives and friends. Another round of funding fell through due to the COVID-19 pandemic, but the company did see a 4000% increase in revenue during 2020. Swimply completed a $10 million Series A round in 2021, with Norwest Venture Partners as the principal investor.

Trust Ventures and other renowned angel investors, such as Poshmark CEO Manish Chandra and Ancestry.com CEO Debora Liu, participated in the subsequent round.

Swimply uses a similar business strategy to Airbnb, taking a 15% commission from the rental price and adding an extra 10% service charge for the visitors. Rental rates vary from $20 to $150 per hour.

Expansion Plans

According to Laskin, who spoke to TechCrunch, “With the COVID immunisation, we noticed more birthday parties, swimming lessons, and people getting together for the first time in a long time.” The business now wants to cover all outdoor places, not just swimming pools. It aims to link individuals with unused tennis courts, hot tubs, huge backyards, rooftops, and even inside gyms by the year 2022. By discouraging new building, using underutilised spaces rather than creating new ones helps to indirectly promote sustainability.

Swimply Growth

The Liabilities

As of 2021, Swimply offers Hosts in the United States a $100,000,000 liability insurance policy and $100,000 in property protection. Swimply mandates that pool owners arrange for a health and safety examination of their pools, which includes checking the tiles and chlorine levels.

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