Remote Year, a Chicago-based platform that provides travel programs for remote workers, has raised $5 million to explore new products and sales channels.
The early stage venture/Series B round, led by Lightbank, brings the company’s total funding to date to $17 million.
Terms of the deal were not disclosed.
A previous round for Remote Year came in October 2016 when Highland Capital Partners led a Series A investment of $12 million.
Founded in 2014, Remote Year provides four-, six- and 12-month programs where participants work and travel together while visiting different cities around Latin America, Europe, Africa and Asia. Travelers pay a down payment of $2,000 a month for travel, accommodations, workspace, curated experiences, a full-time staff and more.
Greg Caplan, co-founder and CEO of Remote Year, says the new funding will be used to “build out our global team supporting work travel programs and introduce a few new experiences in the next 12 months.
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“We have spent the last four years building our global infrastructure and playbook. We now have the pieces in place to really grow our community.”
More than 2,500 traveling professionals from more than 300 companies have participated in Remote Year’s programs across 40 countries on five continents.
Says Mike Mauceri, CFO of Lightbank: “Remote Year has unequivocally defined the work-travel space. Their impressive growth and leadership over the last four years has demonstrated the long-term viability of this market.
“We’re excited to partner with them to further their growth, and we’re equally excited to support their vision of shaping the future of work and the global community.”