Sonder has raised US$170 million in a Collection E funding spherical.
The deal, which was led by Constancy Funds, Westcap and Inovia Capital, values the condominium rental firm at US$1.three billion.
Sonder added confirmed it additionally expects to boost further capital from new and returning buyers that can convey the overall spherical to round $200 million.
The corporate mentioned in an announcement: “Our Collection E wouldn’t have been doable with out the robust relationships we’ve solid with property house owners, who’ve partnered with us to regulate lease phrases.
“This, together with some extraordinary, and at occasions painful, cost-cutting measures, have allowed us to take care of a powerful money place, essential to the long-term success of the enterprise.
“With this new funding, our precedence is to scale Sonder fastidiously and responsibly.
“We are going to proceed to have interaction with our actual property companions about new thrilling areas in addition to innovate on the visitor expertise and proceed to make sure Sonder stays a fantastic place to work for our staff.
“We’re excited to develop new methods to ship a greater keep for our company together with new options, providers and partnerships.
“Our work has solely simply begun, however we’re optimistic about what the long run holds…