Hospitality startup The Guild has secured $25 million in a Series B investment round, which will be spent on expanding to new cities and developing new technologies.
The all-equity round was led by venture firm Maveron, with participation by Convivialite Ventures, ATX Venture Partners and RXR Reality.
The Guild is an Austin-based company, started in 2016, that specializes in converting apartments and office suites into hotel accommodations, with an emphasis placed on the corporate traveler.
Brian Carrico and Chris Herndon, the founders of The Guild, started the company after they “experienced how business travel can deplete the soul,” creating an ecosystem “so that travelers could maintain the cherished routines of home while immersing themselves in the surrounding local community.”
To that end, they have partnered with corporate clients, such as McKinsey, Google and Whole Foods, accommodating their employees while traveling.
The company currently operates 800 units across six metropolitan markets, including Nashville, Miami and, of course, Austin. The Guild has plans to use the investment capital to expand to Los Angeles, Philadelphia and Boston, among other locations.
“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,” Carrico told PhocusWire.
The Guild has plenty of competition on the horizon. Companies like Lyric, Domio and Sonder are all in the market of transforming apartments into hotel-like accommodations, and they each have been the beneficiaries of funding rounds.