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Rhino operates an insurtech platform that streamlines security deposits for rental properties. It offers an affordable insurance product, directly replacing costly upfront cash requirements. This solution provides renters financial flexibility, while protecting property owners and operators against damages and lease defaults with a modern system.
Founded in 2016, Rhino was established by Ankur Jain, Bryan Woods, Benjamin Lantos, and Paraag Sarva. The co-founders identified the financial burden of security deposits on renters and operational inefficiencies for property managers. Ankur Jain, CEO of Kairos, leveraged entrepreneurial experience to address this market friction.
Rhino serves renters by reducing move-in costs, and property professionals by offering asset protection and streamlined operations. Its mission is to enhance housing affordability by transforming rental transactions. The company envisions a more equitable and accessible housing market, easing the financial path to a secure home.
Rhino has raised $118.0M across 3 funding rounds.
Rhino has raised $118.0M in total across 3 funding rounds.
Rhino Technology Group is a Minnesota-based IT solutions provider specializing in cost-effective procurement, sales, and lifecycle management of new and refurbished IT hardware from major brands like Cisco, Dell, HP, IBM, Lenovo, NetApp, and SuperMicro.[1][2][4] With over 50 years of combined industry experience, it serves government agencies and organizations seeking to optimize IT infrastructure under budget constraints, offering services from design and procurement to 24/7 support, managed services, and environmentally responsible disposition.[2][4] The company generates $31.7 million in annual revenue, employs around 30 people, and focuses on delivering reliability, savings up to 85%, and comprehensive warranties.[1][2]
Founded in 2005 and headquartered in Eden Prairie, Minnesota, Rhino Technology Group emerged from deep expertise in the IT hardware market, leveraging over 50 years of combined experience to address needs for affordable, reliable equipment.[1][4] Key leadership includes CEO and Partner Mike Mattson, who guides its operations in buying and selling hardware while building established vendor relationships.[1] Early focus centered on pre-owned IBM, HP, Cisco, Dell, and other systems, evolving into a full-service model covering IT procurement, tech support, custom solutions, and infrastructure disposition to meet growing demands for cost savings without quality trade-offs.[1][2][4]
Rhino Technology Group rides the trend of sustainable IT procurement amid rising hardware costs, supply chain disruptions, and demands for green disposal, enabling organizations to extend budgets while reducing e-waste through refurbished gear.[2][4] Its timing aligns with post-pandemic infrastructure upgrades and edge computing growth, where reliable, affordable Cisco/Dell/HP systems support hybrid cloud and data center expansions.[1][4] Market forces like inflation and chip shortages favor its model, influencing the ecosystem by promoting circular economy practices in IT—lowering entry barriers for mid-market firms and governments, and fostering vendor partnerships that stabilize secondary hardware markets.[1][2]
Rhino is poised to expand as AI-driven data centers and 5G networks accelerate hardware refresh cycles, potentially scaling its $31.7M revenue through deeper managed services and global partnerships.[1][2] Trends like stricter ESG regulations and refurbished market growth (projected to surge with sustainability mandates) will shape its path, evolving its influence from niche procurer to key player in resilient IT supply chains. This positions Rhino to deliver even greater "results" in a budget-conscious tech world, tying back to its core promise of value without compromise.[4]
Rhino has raised $118.0M in total across 3 funding rounds.
Rhino's investors include Scott Shleifer, Lakestar, Ankur Jain, Alumni Ventures, Andreessen Horowitz, Balderton Capital, Caffeinated Capital, Global Founders Capital, Tom Hulme, Jigsaw VC, Northzone, Operator Partners.
Rhino has raised $118.0M across 3 funding rounds. Most recently, it raised $95.0M Other Equity in January 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 26, 2021 | $95.0M Other Equity | Scott Shleifer | |
| Sep 1, 2019 | $21.0M Series A | Lakestar, Ankur Jain | Alumni Ventures, Andreessen Horowitz, Balderton Capital, Caffeinated Capital, Global Founders Capital, Tom Hulme, Jigsaw VC, Northzone, Operator Partners, Picus Capital, Target Global, Tiger Global Management, Y Combinator, Errol Damelin, Jehan Chu, Jerod Mayo, Paul Forster |
| Sep 1, 2017 | $2.0M Seed | ff Venture Capital | Balderton Capital, Global Founders Capital, Great Oaks Venture Capital, Tom Hulme, Jigsaw VC, Kairos HQ, KRM Interests LLC, Northzone, Picus Capital, Plug & Play Ventures, Target Global, VentureFriends, Errol Damelin, Jehan Chu, Paul Forster, FJ Labs, Lakehouse Ventures, Red Dog Capital |