Hospitality brand Sonder is claiming unicorn status after closing a Series D round of $210 million.
Investors in the round - which puts the company at $400 million in total funding and a valuation of more than $1 billion - include Fidelity, Valor Equity Partners, Atreides Capital, ARod Corp and the Pritzker family (through Tao Capital Partners), as well as existing investors Spark Capital and Greenoaks Capital.
Sonder, which manages short-term rentals with hotel-like amenities, says an additional $15 million in investment will arrive over the coming weeks from “select developer” partners; it previously raised an $85 million Series C round in August of last year.
Sonder co-founder and CEO Francis Davidson says the capital will be used to “accelerate the amazing growth we’ve seen so far,” and the concept plans to expand to major cities across Europe, the Middle East and Latin America over the next 12 months.
Sonder currently has 8,500 spaces, which it leases, designs and supports, signed across 26 cities in six countries. By the end of the year, it projects $400 million in revenue, which is four times that of last year.
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