Lyric, a San Francisco, Calif.-based tech-enabled real estate and hospitality company, raised $160m in Series B funding.
The round, which brings total funds raised to $185M, was led by Airbnb with participation from Tishman Speyer, RXR Realty, Obvious Ventures, SineWave, Dick Costolo and Adam Bain, Barry Sternlicht, NEA, SignalFire, FifthWall and Tusk Ventures, along with new debt financing.
The company intends to use the funds to continue to expand its operations and invest in its proprietary technology and data platform.
Led by Andrew Kitchell, co-founder and CEO, Lyric is a technology-enabled real estate and hospitality company that designs, installs and operates a new class of flexible accommodations for the modern traveler. Its Creative Suites cater to professionals looking for both short-term and long-term stays, from one night to over 200 nights.
The company’s in-house design team curates each suite to combine a workspace, artistic studio, and amenities of a luxury hotel, along with a deep connection to the community through partnerships with local businesses and makers. All of the suites are powered by proprietary software and data platform used to secure optimal site location, manage revenue, as well as maintain safe and clean suites through automated background checks and digital access.
Lyric partners with 20 of the top 50 multifamily owners, managers, and developers in the country.