US: Austin-based aparthotel company Locale has raised $11 million in Series A funding led by Amplo Ventures.
Other participants were Susa Ventures, Malkin Holdings, Rogue Insight Capital and Metropolis Capital Partners, bringing the total funding to date for Locale to $14 million.
Founded in 2016, Locale operates in major markets across the US, including Austin, Houston, Dallas, San Francisco, Nashville and Minneapolis.
The new funding will be used “to further invest in digital product innovation, enhanced in-room offerings and executive-level hiring. It will also enable Locale to move forward with its pipeline of projects in markets like Denver, Nashville and Charleston, providing guests with a fully branded and curated end-to-end experience rivaling the best upscale hotels”.
“We first decided to back Locale when we realised how thoughtful they are in building the next generation of accommodations for travellers,” said Sheel Tyle, founder and CEO of Amplo Ventures. “We are now increasing our commitment to Locale as it continues to redefine the short-term rental category by introducing a premium apartment hotel brand centered around quality in-room products, intentional design, local curation and most importantly, a superior hospitality-driven experience.”
The founder and CEO of Locale, Nitesh Gandhi said: “This year has been an exciting one of expansion for Locale—from the number of cities which we are located to the number of guests we’ve served,” said Gandhi. “It’s been an important stepping stone in achieving our ambition to create the leading modern apartment hotel brand. This latest round of funding, together with our invaluable real estate and brand partnerships, will help Locale’s continued growth, which include a number of full-building deals currently in development that will allow travelers to experience Locale’s artfully curated approach to hospitality in a complete environment.”
</p
