About Grover
Grover is a company based in Miami (United States) founded in 2015. It operates as a Product-as-a-Service, and Subscription Services. Grover has raised $323.14 million across 11 funding rounds from investors including Assurant, LG and Commerzbank. Grover offers products and services including Tech Rental Service, Smartphones and Tablets, Computers and Laptops, Cameras and Accessories, and Gaming and VR Equipment. Grover operates in a competitive market with competitors including Lyte, Campus TVs, Emendu, Gearbooker and MyFridgeRental, among others.
- Headquarter Miami, United States
- Stage Unicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Grover Deutschland Gmbh
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$323.14 M (USD)
in 11 rounds
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Latest Funding Round
$54.62 M (USD), Series C
Jul 18, 2024
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Investors
Assurant
& 20 more
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Employee Count
Employee Count
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Products & Services of Grover
Grover offers a comprehensive portfolio of products and services, including Tech Rental Service, Smartphones and Tablets, Computers and Laptops, Cameras and Accessories, and Gaming and VR Equipment. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Tech products are rented for flexible durations monthly.
Various smartphones and tablets are offered for rent.
Computers and laptops are available for rental use.
Cameras and related accessories are provided for rent.
Gaming consoles and VR gear are rented out.
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Funding Insights of Grover
Grover has successfully raised a total of $323.14M across 11 strategic funding rounds. The most recent funding activity was a Series C round of $54.62 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 11
- Last Round Series C — $54.6M
- First Round First Round
- Investors Count 21
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Series C - Grover | Valuation | Cool Japan Fund , Energy Impact Partners |
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| Sep, 2022 | Amount | Debt – Conventional - Grover | Valuation |
investors |
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| Apr, 2022 | Amount | Series C - Grover | Valuation | Energy Impact Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Grover
Grover has secured backing from 21 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Assurant, LG and Commerzbank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Diversified asset management firm and private fund focused on debt and equity investments in climate startups, real estate, and multiple sectors
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Founded Year | Domain | Location | |
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Venture capital fund focused on growth-stage startups
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Founded Year | Domain | Location | |
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Venture capital firm focused on investing in tech startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Grover
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Grover
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Grover Comparisons
Competitors of Grover
Grover operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Lyte, Campus TVs, Emendu, Gearbooker and MyFridgeRental, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Power banks are rented through an app-based B2C platform.
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| domain | founded_year | HQ Location |
Provides TV rental services for college students.
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| domain | founded_year | HQ Location |
Online rental platform offering consumer electronics
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| domain | founded_year | HQ Location |
Operates an online marketplace for renting photography equipment and gear.
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| domain | founded_year | HQ Location |
Electronic appliances are rented via an online platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Grover
Frequently Asked Questions about Grover
When was Grover founded?
Grover was founded in 2015 and raised its 1st funding round 3 years after it was founded.
Where is Grover located?
Grover is headquartered in Miami, United States. It is registered at Miami, Florida, United States.
Is Grover a funded company?
Grover is a funded company, having raised a total of $323.14M across 11 funding rounds to date. The company's 1st funding round was a Series C of $110M, raised on Jun 01, 2018.
What does Grover do?
Tech products ranging from smartphones, tablets, laptops, cameras, gaming consoles, to smart home devices are rented out by Grover. The company operates in multiple countries including Germany, Austria, Netherlands, Spain, and the United States. Flexible rental durations from 1 to 24 months are offered, alongside services like Grover Care for device protection. A wide array of consumer electronics sectors is covered, ensuring accessibility to the latest technology without long-term commitment. Sustainability is emphasized through a circular economy model where returned devices are refurbished and re-rented.
Who are the top competitors of Grover?
Grover's top competitors include Lyte, Emendu and MyFridgeRental.
What products or services does Grover offer?
Grover offers Tech Rental Service, Smartphones and Tablets, Computers and Laptops, Cameras and Accessories, and Gaming and VR Equipment.
Who are Grover's investors?
Grover has 21 investors. Key investors include Assurant, LG, Commerzbank, Seedcamp, and M&G.
What is Grover's valuation?
The valuation of Grover is $1B as of Apr 2022.
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