Life House, a NYC-based tech-enabled lifestyle hotel company, closed a $30m Series B funding.
The round was led by Thayer Ventures, with participation from Tiger Global, JLL Spark, and Ashton Kutcher & Guy Oseary’s Sound Ventures, the former Chairman of Morgans Hotel Group, David Hamamoto, Jim Ketai – the Founder of Bedrock Detroit – the owner of Detroit’s Shinola Hotel, and prior investors Global Founders Capital, Comcast Ventures and Trinity Ventures.
The company intends to use the funds to grow into new markets, launch new brands in other consumer price segments, continue to innovate and reach corporate profitability in the next 18-24 months.
Led by Founder & CEO Rami Zeidan, Life House is a vertically-integrated hotel brand, management, and software company which has built a proprietary technology stack to help hotels become more profitable and travelers enjoy their experiences.
The company launched with two primary products – an accessibly-priced 4-star hotel brand called “Life House” and a white-labeled software-driven management platform. In terms of software, they have already built and launched several proprietary software applications including an automated financial accounting & reporting, an automated, algorithmic, & machine learning-driven pricing system, and an employee facing property management system, among others.
Life House is initially focused on small hotels but has plans to grow out of that. Currently, its largest hotel is 132 rooms, with larger projects in the pipeline.