Life House, a New York-based lifestyle hotel company, secured $40M in funding.
The funding consists of $10M in venture capital to accelerate the operating and technology company and $30M in real estate capital to support its first projects in the U.S.
The venture funding was completed in two rounds with Global Founders Capital, who led the Series A in February, and Comcast Ventures, who led the Series Seed round in September, while Trinity Ventures also made a significant investment. The real estate funding was led by Henley Investments, who also participated in the venture rounds.
The company intends to use the funds to accelerate the development of its platform.
Founded in 2017 by Rami Zeidan and Yury Yakubchyk, Life House provides lifestyle boutique hotel product and proprietary technology platform. The company operates hotels and develops and designs them for real estate owners who want to own lifestyle hotels but are underserved by institutional developers and operators. The Life House technology platform also features a social network for guests to meet each other prior to arrival and is powered with a proprietary booking experience that makes traveling alone or in a group easier.
The company will be launching its first two hotels in Miami this fall, followed by a property in Brooklyn New York in early 2019 with plans to design, develop and operate properties across 20 locations within the next two years.