Lyric, a platform for folks who struggle to decide between a hotel and an Airbnb, has today announced the close of a $160 million Series B financing led by none other than Airbnb. Other investors who participated in the round include Tishman Speyer, RXR Realty, Obvious Ventures, SineWave, Dick Costolo, Adam Bain, as well as existing investors Barry Sternlicht, NEA, SignalFire, FifthWall and Tusk Ventures.
Lyric is a hospitality platform for business travelers. The company secures its own inventory in multi-family residential buildings through partnerships with landlords. From there, the company brings in its designers to beautify the place and pack it full of amenities, including coffee from a local roaster and a fully functional kitchen.
You can think of Lyric as a premium operator,” said cofounder and CEO Andrew Kitchell. “We do everything from selecting locations to bringing in a brand and design team to managing every single room every single day. We’re a modern hotel operator with a meaningfully different supply.”
The startup uses a proprietary app called Tidy to manage room cleanings. The app not only walks cleaners through the process of getting a rental ready for the next customer or day, but also hasRead the rest of this post here