US-based short-term accommodation platform The Guild has collected $25m in funding from investors including real estate developer RXR Realty, Skift has reported.
The round was also backed by real estate-focused investment firms Corigin and Nicol Investment Group, in addition to venture capital firms Maveron, Convivialité Ventures and ATX Venture Partners.
Founded in 2016, The Guild offers 800 apartment-style units across six US cities for short-term rental by business travellers, targeting clients who expect to visit the same location multiple times for work.
The company partners property developers to upscale existing residence and office blocks, and will allocate the funding to technology development and its entry into six additional US markets by 2021.
Brian Carrico, co-founder of The Guild, said: “Our strategy is to grow at a measured pace that allows us to keep improving the guest experience and keep adding new locations that our guests want.
“It helps us avoid the pressure to add locations that we wouldn’t typically want to add just to have certain growth metrics.”
The Guild raised $8.5m from Maveron in late 2018 following $2.6m in debt financing from unnamed investors across rounds in August and December 2017, according to regulatory filings.