Locale, an Austin-based hospitality startup, has secured $11 million in a Series A funding, bringing their total amount raised to $14 million.
The company, which was started by industry veteran Nitesh Gandhi back in 2016, specializes in transforming high end apartment properties into hotel suites. Locale partners with owners and developers of urban apartment projects, often at the development end. The company targets business, leisure and extended-stay travelers, with an average stay of five nights.
Locale received the funding round from lead investor Amplo Ventures, with participation from Susa Ventures, Malkin Holdings, Rogue Insight Capital and Metropolis Capital Partners, as reported by Austin American-Statesman.
“We first decided to back Locale when we realized how thoughtful they are in building the next generation of accommodations for travelers,” said Sheel Tyle, CEO of Amplo Ventures. “We are now increasing our commitment to Locale as it continues to redefine the short term rental category by introducing a premium apartment hotel brand.”
Locale has 30 employees and operates in markets throughout the United States, including Dallas, San Francisco and Minneapolis, in addition to the company’s home base of Austin. The company will use the funding to expand into new markets, as well as make executive hires, invest in new technologies and enhance their in-room offerings, according to CEO Gandhi.
“This year has been an exciting one of expansion — from the number of cities which we are located to the number of guests we’ve served,” Gandhi said. “Locale is addressing the evolving needs and desires of today’s business and leisure traveler, who seeks intentionality in their travel experience. From an elevated in-room design to high quality product partners, we’re curating a unique experience that will elevate the Locale brand and bring much needed differentiation to this category of accommodations.”
This latest round of funding follows a $25 million investment in Austin-based hospitality startup the Guild just last week.
photo credit: locale
