SAN FRANCISCO, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Today, Landing, the company behind the industry-first flexible leasing membership for long-term living, announced it secured $30M in new funding: a $20M Series A led by Greycroft with participation by Maveron and Abstract Ventures, alongside a $10M debt facility. Additionally, the company is also announcing its expansion to three new markets in the U.S. With this influx of new capital and steadily rising market demand, Landing will leverage the new funds to continue its rapid expansion to additional U.S. markets and beyond this year.
Since formally launching in November 2019, Landing has brought its unique flexible living solution to 9 cities across the U.S. Landing’s network of thoughtfully designed, fully-finished apartments provide a long-term, yet flexible, living experience for the modern renter. From bespoke furniture, designed to be both functional and stylish, to a kitchen stocked with essentials and an on-call concierge service, Landing members receive access to apartments that are turn-key, with everything needed to be at home upon arrival.
“The dynamics of renting have been essentially unchanged for decades, and innovation and new models are what’s needed to meet the lifestyles of a new generation of workers,” said Bill Smith, Chief Executive Officer and Founder of Landing. “We’re seeing a growing mobile workforce in need of more flexible living solutions that empower them to embrace opportunities as they arise – no matter where they’re located on the map. Landing is the first company addressing this and taking charge of reshaping how people will live in the future.”
Series A Equity Financing
The $20M Series A round is led by Greycroft with participation by Maveron and Abstract Ventures. The company also secured an additional $10M in debt, bringing total funding to $45M. These investors bring a unique blend of consumer expertise and a track record of backing power house brands focused on superior consumer experiences, and will be instrumental in supporting Landing’s continued expansion, bringing its contemporary living solution to new markets.
“People’s needs for living are changing – they want to balance flexibility, stability and quality. Until now, no other company has offered a flexible living membership experience, and Landing is poised to become a key driver of change within the real estate industry,” said Ian Sigalow, Co-founder and Partner of Greycroft. “We backed Bill in his former company, Shipt, and believe in his ability to execute on this massive market opportunity.”
“Every consumer-facing industry has experienced massive transformation over the last few years, driven by changing expectations around convenience and experience, yet real estate has struggled to evolve to meet the needs of today’s renters,” said Dan Levitan, Co-founder and Partner of Maveron. “Landing is offering a new living experience built entirely around quality, convenience and flexibility. Bill's proven success creating premier consumer businesses, such as Shipt, brings us great confidence in his ability to introduce and scale an exceptional product to the market, breathing new life into the real estate industry and setting leading-edge innovation into motion.”
Landing Momentum
With today’s expansion into Washington, D.C., Chicago and Boston, Landing is currently available in 9 markets in the U.S. To develop offerings in each market, the company works directly with property managers and apartment owners within each city to offer Landing apartments in conveniently located neighborhoods with easy access to public transportation, shopping and more. By the end of 2020, Landing plans to be offering apartments to its members in 30 cities.
To learn more about Landing or to inquire about membership please visit, www.hellolanding.com. If you are interested in joining the Landing team, visit www.hellolanding.com/careers
About Landing
Landing is changing the way people live. Beginning with a network of fully-finished urban apartments, Landing offers its members an industry-first all-inclusive, flexible living experience. Members have access to Landing’s studios, one, and two-bedroom apartments with an on-call concierge service and a host of additional amenities. Landing apartments are currently available in Austin, Birmingham, Boston, Chicago, Los Angeles, Nashville, New York City, the San Francisco Bay Area and Washington D.C., with plans to be in 30 cities by the end of 2020. The company was founded in 2019 by Bill Smith and is headquartered in San Francisco, CA. For more information, visit hellolanding.com.
Media Contact
LaunchSquad for Landing
landing@launchsquad.com
415-625-8555