Austin-based upscale aparthotel brand Locale has announced that it has raised $11 million in Series A funding.
The round was headed up by Amplo, with participation from Susa Ventures and Metropolis Capital Partners. The latest round brings the firm’s total funding to date to $14 million.
Locale, founded in 2016, aims to convert apartments into high-quality accommodations for business, leisure and extended stay travelers and deliver a “best-in-class guest experience” while operating both efficiently and effectively. Locacle blurs the line between vacation rental and traditional hotels with its high-end furnished apartments.
Its major markets are spread across the United States, such as Austin, Houston, Dallas, San Francisco, Nashville, and Minneapolis, and it currently employs over 30 full-time team members. Despite limited capital investment to date, the company says its revenue has grown by up to 200 percent year-over-year, while guest satisfaction scores remain solid.
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