US-based accommodation service provider WhyHotel has received more than $20m in a series B round backed by Camber Creek, the venture capital firm backed by real estate developer Berman Enterprises.
The round was led by Harbert Growth Partners, part of investment manager Harbert Management Corporation, and included Highland Capital Partners, Working Lab Capital, Geolo Capital, Revolution’s Rise of the Rest Seed Fund and private investor Mark Nunnelly.
Founded in 2016, WhyHotel oversees buildings with 100 to 250 apartments for lease as holiday and business lodging. It seeks to combine traditional hotel amenities and services with the advantage of larger property spaces associated with home-sharing models.
The company secured $10m in a December 2018 series A round led by Highland Capital Partners that featured Camber Creek, Geolo Capital, Mendacre, MetaProp and Revolution’s Rise of the Rest Seed Fund.
The series A funding came six months after Camber Creek led a $3.9m round that included real estate trust Vornado/Charles E Smith, Mendacre, MetaProp, Rise of the Rest and Working Lab Capital.
