Lodging Startup Landing Raises $125 Million to Redefine Corporate Housing

Subscription-based lodging operator Landing raised $125 million to continue growing in the U.S., reflecting a corporate appetite for “flexible living” as remote workers hop from city to city.

It’s the latest in a flurry of major deals to emerge in the sector, which includes a new project from WeWork’s controversial co-founder. Adam Neumann raised $350 million for Flow, another one of these so-called next-generation apartment companies that offer a hybrid model of lodging that mixes short-term and long-term stays.

They're increasingly appealing to companies, as well as people simply wanting to rent in a new city without being tied down by a traditional 12-month contract or mortgage. They also claim to appeal to real estate investment trusts, landlords and property managers as they take away the stress of finding vetted renters, and leverage apps to build ready-made communities.

Flow is slated to launch in 2023, and backer Andreessen Horowitz claims it will shake up the housing market.

However, Landing claims it pioneered the first “flexible living membership” model in 2019, as it allows members to jump from city to city, staying in its network with only a two-week notice. It now has its eyes on the business market via its new corporate housing program. Landing currently has 20,000 units in 375 cities.

"Landing is focused on building the future of living for people seeking more flexibility and convenience," said CEO and founder Bill Smith. "Our apartments are also well-suited for corporate housing."

That's because those business client partners have on-demand access to instant booking capabilities, and a single platform for visibility into all reservations. The company said it has seen a 380 percent membership increase in the past year, and since it launched in 2019 claims mem