Since launching in late 2019, the corporate has raised $180 million in funding and has expanded to a complete of 75 U.S. cities.
The funding spherical included a $45 million Sequence 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 need 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 residences.
“Touchdown is basically altering how individuals are in a position to reside,” Invoice Smith, CEO and founding father of Touchdown, stated in an announcement. “The demand for extra dynamic dwelling experiences will proceed to develop as work turns into extra versatile and other people have extra freedom to work remotely. With this new funding and the assist of our unbelievable enterprise companions, Touchdown will proceed to steer the trade into the way forward for dwelling — one which we imagine is an easy, seamless expertise that empowers individuals with freedom and adaptability.”
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 related journey or hospitality-based firms, 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, stated in an announcement. “The rising want for extra nimble dwelling options is evident and Touchdown’s distinctive providing fills an enormous alternative out there.”