24 January 2020:
Hotel disruptor Life House has raised $30 million in Series B round of funding. The funding round was led by leading travel-tech investors, Thayer Ventures, with Tiger Global, JLL Spark, and Ashton Kutcher & Guy Oseary’s Sound Ventures among others.
Several strategic investors also participated in the round, including the former Chairman of Morgans Hotel Group, David Hamamoto, and Jim Ketai – the Founder of Bedrock Detroit – the owner of Detroit’s Shinola Hotel. The round also included follow-on investments from the company’s prior investors Global Founders Capital, Comcast Ventures & Trinity Ventures.
Rami Zeidan, Founder and CEO, Life House, said, “The hotel industry is broken, leaving hotel owners with painfully unprofitable hotels and travelers with expensive or suboptimal hotel experiences. Most of these problems are solved with software, while others are solved with innovation in the supply chain of our services.”
Chris Hemmeter, a Managing Partner at Thayer Ventures, said, “We, like many other investors, were immediately enamored with the Company and team that Rami has built. Our connections and LP-base in the hotel space are deeply rooted and after a thorough vetting, we became even more excited. We’re very excited to be partnering with Rami and his team and we’re pleased that they recognized our value-add and selected us to lead at the prudent terms we offered.”
Jason Brown of Blue Flag Capital, said “We’ve been extremely impressed with the Life House team’s ability to immediately add value to the hotels we have acquired and completely transform a hotel in such a short amount of time.”
Patricia Nakache, General Partner at Trinity Ventures, said, “We are excited to continue our support of Life House as it expands its portfolio of boutique hotel properties that leverage technology to deliver aspirational travel experiences at affordable prices. Rami’s deep expertise in the hospitality industry gives him a unique perspective on how to modernize travel for guests and property owners alike.”
Kitty Sullivan, of JLL Spark, said, “Life House is an excellent addition to JLL Spark’s portfolio, offering authentic travel experiences to hotels and their guests and using software to reduce the costs of the operation. The Life House team is incredibly impressive and its scalable, asset-light strategy is poised to sustainably bring new value – and new levels of profitability – to the hotel industry.”
(Image – Life House)