Corporate venture fund Allegion Ventures has invested an undisclosed amount in Mint House, a startup providing accommodation for business travelers.
Allegion Ventures has a $50 million fund and writes checks of between $250,000 and $5 million.
The company has previously invested in a $30 million round last year for Kasa Living, a short-term rental startup.
Rob Martens, president of Allegion Ventures, says both startups are bringing value to customers through their technology-led features such as mobile check-in, keyless entry and digital concierge services.
Allegion, the parent company of the venture fund, is a specialist in security products.
Martens, who is also chief innovation and design officer at Allegion, says: “As the need for what we call ‘seamless access’ has been amplified by the COVID-19 pandemic, there are opportunities across not just the hospitality market, but also commercial and institutional real estate, to innovate and delight customers, while also helping them safeguard their health through smart technologies.”
Will Lucas, founder and CEO at Mint House, says: “It’s always been our mission to fundamentally improve the lives of road warriors who are tired of the legacy, box-like hotel, whether they were staying for two nights, two weeks or two months.”
Mint House previously announced $15 million in funding in May 2019.