Following a year when several companies in the private accommodation space raised eyebrows with nine-figure venture rounds, The Guild is bucking the trend with a more modest capital raise of $25 million.
The Series B investment round, which is all equity, brings the company's total funding to date to $32.5 million.
Venture firm Maveron, which led the previous round, is backing the investment along with Convivialite Ventures and ATX Venture Partners.
Real estate partners RXR Reality, Corigin and Nicol Investment Group also participated in the round.
The Guild, which was founded in 2016, converts apartment and office properties into hotel suites.
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It specializes in corporate travel with an eye towards improving the booking experience for employees.
Brian Carrico and Chris Herndon, the founders of The Guild, say they have “experienced how business travel can deplete the soul” and started the company “so that travelers could maintain the cherished routines of home while immersing themselves in the surrounding local community.”
“These new funds will enable us to extend The Guild experience to a broader community of business travelers in search of a better life on the road.”
The Austin, Texas-based company, which currently operates 800 units across six domestic markets, says that the funds will be used to expand into new cities and to develop more guest-friendly technology.
Says Chip Conley, an investor with The Guild who founded Joie de Vivre and became Airbnb’s global head of strategy and hospitality: “Relative to other startups in this emerging category, many of whom prioritize growth above all else, The Guild has an intimate understanding of its guests and is obsessed with all those personalized details that make the experience delightful.”