Membership-based versatile leasing co. Touchdown raises $100M

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Since launching in late 2019, the corporate has raised $180 million in funding and has expanded to a complete of 75 U.S. cities.

Membership-based versatile leasing startup Touchdown announced a $100 million funding spherical and growth into additional markets on Tuesday.

The funding spherical included a $45 million Collection B spherical led by Foundry Group, which additionally included participation from Greycroft and Maveron, in addition to a $55 million debt facility.

Over the course of the pandemic, the corporate has seen an explosion of demand as renters have expressed a want to relocate at a second’s discover amidst the uncertainty of the pandemic. That demand enabled Touchdown to greater than double its authentic 2020 growth targets.

Now the corporate has grown its market share to offer versatile leasing choices to members throughout 75 U.S. cities and greater than 10,000 flats.

Invoice Smith

“Touchdown is basically altering how persons are capable of reside,” Invoice Smith, CEO and founding father of Touchdown, mentioned in a press release. “The demand for extra dynamic residing experiences will proceed to develop as work turns into extra versatile and folks have extra freedom to work remotely. With this new funding and the assist of our unbelievable enterprise companions, Touchdown will proceed to guide the business into the way forward for residing — one which we consider is an easy, seamless expertise that empowers folks with freedom and suppleness.”

Landing launched in six U.S. cities in November 2019. As of August 2020, it had expanded into 11 new markets and employed on three new executives with backgrounds in comparable journey or hospitality-based corporations, together with WeWork and Airbnb. Since its launch, the corporate has raised a complete of $180 million in funding.

“Invoice has a eager eye for recognizing when industries are on the cusp of innovation, and the tide was no completely different with Touchdown,” Chris Moody, a associate at Foundry Group, mentioned in a press release. “The rising want for extra nimble residing options is evident and Touchdown’s distinctive providing fills a large alternative out there.”

Email Lillian Dickerson

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