With more new funding in the bank, newly minted unicorn Sonder has plenty of resources to build on its short-term rental business.
The San Francisco based startup announced it raised $210 million in its latest Series D funding round. This round pushes Sonder past the billion mark in valuation, nosing it into a crowded list of 2019’s tech startup unicorns. Sonder however is the year’s only hospitality-tech oriented startup to hit the billion value mark.
The startup’s CEO and co-founder, Francis Davidson, told Forbes he wants to make Sonder the world’s next Hilton, with its apartment like features and decor, and even a 24 hour concierge for guests. But its success and temporary rental format more closely parallels successful travel startup, Airbnb.
“My hope is that we’re going to be able to build an iconic consumer brand within hospitality,” said Davidson in a recent interview with Forbes’ Biz Carson.
Sonder’s newest funding comes from a variety of investors including leaders Tao Capital Partners, Valor Equity and Westcap. Other participating investors include Fidelity, Atreides Capital, ARod Corp, Greenoaks Capital and Inovia Capital.
Sonder currently has 8,500 sites in at least 20 locations around the world. The new funding will help the startup expand its roster of worldwide locations even further.
Images credit: Sonder