Flexible living company Landing
has secured $125 million in Series C funding. The round, comprised of new
equity and debt financings, was led by Delta-v Capital with participation from
new and existing investors, including Greycroft and Foundry.
Founded in 2019, Landing is a membership-based network of furnished, flexible-lease apartments across the United States. With more than 20,000 available listings, the Birmingham, Ala.-based company offers move-in ready units with
monthly leases, and members can move freely throughout the nationwide network
with two weeks’ notice.
In 2021, the startup expanded into 33 new markets and saw notable upticks in reservations and new member demand, including a 230% increase in the number of reservations booked directly on its platform year-over-year. So far in 2022, there have been more reservations booked in the Landing network than all of 2021.
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Landing plans to use the capital to expand its network of
apartments to meet growing demand as people embrace the work-from-anywhere trend. The company says it saw
a 380% membership increase in the past year, and more reservations have
been booked so far this year than all of last year.
“Flexible living is the future, and with Landing, we’re making the
lifestyle more accessible and alluring than ever before,” says Landing CEO and founder
Bill Smith.
“With new funding and the continued support of our capital
partners,” Smith says, “we’re in an excellent position to continue redefining the
future of living, one city at a time.”
The company says it appeals to consumers seeking alternatives to the “rigid and
fragmented structure” of traditional living.
“Landing
has defined an entirely new category of living,” says Dave Schaller, a founding
partner of Delta-v Capital. “Beyond the company’s impressive growth since
launch, we’re inspired by Bill Smith’s visionary approach to revolutionizing
the rental experience and believe Landing is poised to continue leading the
category forward for years to come.”