Foundry Group leads Series B round, fueling Landing’s expansion of new apartments across the U.S.
SAN FRANCISCO – January 12, 2021 – Landing, the company behind the first membership for flexible, long-term living, today announced it secured $100M in new funding: a $45M Series B led by Foundry Group with participation by Greycroft and Maveron, alongside a $55M debt facility. With an influx of fresh capital and a rapidly growing membership base, the company will continue expanding its growing network of apartments to new markets across the country.
The appetite for flexible living has been building for years. Catalyzed by the pandemic and an increasingly mobile workforce, Landing has quickly accelerated its business to meet the new demand. Since March 2020, Landing has more than doubled its expansion plans for the year, surpassing over 10,000 apartments in 75 cities across the country. This rapid growth underscores the massive opportunity that Landing uniquely meets in the market and offers a glimpse into the more flexible lifestyles people will desire in the future.
“Landing is fundamentally changing how people are able to live,” said Bill Smith, Chief Executive Officer and Founder of Landing. “The demand for more dynamic living experiences will continue to grow as work becomes more flexible and people have more freedom to work remotely. With this new funding and the support of our incredible venture partners, Landing will continue to lead the industry into the future of living – one that we believe is a simple, seamless experience that empowers people with freedom and flexibility.”
The $45M Series B round is led by Foundry Group with participation by Greycroft and Maveron, both of which participated in the company’s Series A round in February 2020. Landing’s investors bring unique expertise and a track record of backing premier brands focused on reshaping consumer experiences and will be instrumental in Landing’s continued growth and maturity into a global brand. Paired with the $20M Series A round earlier this year and $65M in total debt financing, since launch in 2019 Landing has secured $180M in total funding.
“Bill has a keen eye for recognizing when industries are on the cusp of innovation, and the tide was no different with Landing,” said Chris Moody, Partner at Foundry Group. “The growing need for more nimble living solutions is clear and Landing’s unique offering fills a massive opportunity in the market. With Bill’s exceptional leadership and passion for building better solutions to common problems, we’re confident that Landing will keep on its path of exponential growth in the coming years.”
Landing is changing the way people live. Beginning with a network of fully-finished urban apartments, Landing offers its members an industry-first all-inclusive, flexible living experience. Members have access to Landing’s studios, one, and two-bedroom apartments with an on-call concierge service and a host of additional amenities. Landing apartments are currently available in 75 major markets across the United States and growing. The company was founded in 2019 by Bill Smith and is headquartered in San Francisco, CA.