Suiteness Closes $5 Million Funding Round
OAKLAND, California, December 14, 2016
Suiteness, the only online booking service for thousands of exclusive luxury and apartment-style hotel suites today announces the closing of a $5M Series A funding round co-led by Bullpen Capital & Global Founders Capital, with participation from HVF (Co-Founder of PayPal, Max Levchin’s personal fund), YC’s Continuity Fund, Kima Ventures, Altair Capital and other prominent investors. The latest injection of capital will support the company’s plans for expansion into 10 new cities by the end of 2017 starting with Orlando, following 50 percent month-over-month growth in bookings in New York, Las Vegas, Miami, Los Angeles and London. Eric Weisen, Managing Partner at Bullpen Capital, will be joining Suiteness’ list of notable Board of Directors.
Suiteness makes it simple for families, large groups and business travelers to book luxury and apartment-style suites with multiple bedrooms that were previously unavailable online, with a roster of over 100 hotel partners including The Venetian & Palazzo Las Vegas, Caesars Entertainment, SLS Hotels, Viceroy and Dream Hotels, among others. Las Vegas suites start at $150 per night.
The service provides an upscale yet economically viable alternative to home booking sites such as Airbnb, HomeAway and VRBO. On top of hotel amenities, Suiteness provides guests a 24/7 concierge that will help with access to the hottest local restaurants, clubs and entertainment.
“Demand has accelerated at a much faster pace than we anticipated and forced us to expand ahead of schedule,” said Suiteness CEO, Robbie Bhathal. “We launched Suiteness to fill a growing gap in the travel market for families and groups who wanted the space of a home or apartment, yet didn’t want to sacrifice the amenities of a 4 or 5 star hotel. This new round of funding will give us the firepower to continue expanding our inventory of suites not only for the benefit of travelers, but also for hotels which we are helping realize the potential of thousands of underutilized suites and rooms.”
Since launching in 2015, the Oakland-based startup has experienced growth at rapid rates– receiving 1 new member every 4 minutes.
“We believe Suiteness is building the next big brand in personalized travel,” said Eric Weisen, Managing Partner at Bullpen Capital. “Just as they’re opening up access to thousands of luxury suites to travelers, they’re giving hotels a trusted location to list their premium rooms on an equally premium platform. While many websites compete to offer standard hotel rooms, Suiteness is creating a category of its own that has all of the foundations and momentum to scale globally.”
Suiteness is the first online booking platform that allows users to access an inventory of thousands of exclusive luxury hotel suites. Suites range from standard one-bedrooms to spacious apartment-style stays with multiple attached rooms. The company is carving a niche for itself in the international travel industry as the leading website dedicated solely to luxury suites and is finding success with group travelers and families looking for a nice place to stay together.