Venture Capital: Landing, A Network Of Furnished Apartments For Rent, Raises $125M

August 26, 2022 | Latest News, News, Venture Capital

Landing calls itself the company behind the first membership for flexible apartment living.

Landing has successfully closed a $125 million series C raise comprising both equity and debt funding. Delta-v Capital led the round which also received participation from new and existing investors,including Greycroft and Foundry. (GlobeNewswire)

Landing’s offering of flexible apartment living seeks to remove the headaches of traditional leasing and instead provides a huge degree of freedom and flexibility to the modern day renter. It’s a membership model offering ready to move apartments with monthly leases. Members can hop across their nationwide network, changing apartments with just a two-week notice.

The start-up claims to have the largest network of such flexibly offered furnished apartments, with 20,000 listed across more than 375 US cities.

The company sees the market as a massive opportunity with consumers looking for alternatives to the rigid and fragmented structure of the traditional renting procedure. As a result, the global rental market is rapidly transforming, and facing rising demand for flexible renting options.

“Flexible living is the future, and with Landing, we’re making the lifestyle more accessible and alluring than ever before,” said Bill Smith, founder and Chief Executive Officer of Landing.

“Landing has defined an entirely new category of living,” said Dave Schaller, a founding partner of Delta-v Capital.

Chris Moody, Partner at Foundry. “After a remarkable first year, we’re proud to continue our partnership and are confident that Landing is well-positioned to meet the massive market opportunity for flexible living.”

In 2021, Landing clocked a year-over-year growth of 230% in the number of reservations booked on its platform. It expanded into 33 new markets with resulting growth both in new members as well as reservations. Year-to-date in 2022, Landing has enjoyed more reservations then all of 2021.

Recently, WeWork’s controversial co-founder, Adam Neumann raised $350 million for Flow, another one of these “next-gen” apartment companies that offer a hybrid model of lodging that mixes short-term and long-term stays.

Related Story: Andreessen Horowitz Invests $350M In Adam Neumann’s Rental Real Estate Startup

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