Long-term Rental Marketplace 2nd Address Announces New Round of Funding Led by GV

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2nd Address has raised $10 million in Series C funding, will use funding to launch in new markets and grow the internal team.

www.2ndaddress.com

“Our mission is to help business travelers find quality long-term stays that feel like home,” said 2nd Address CEO, Chung-Man Tam.

Today, 2nd Address, the leading marketplace for professional long-term rentals, has announced a Series C round at $10 million. The round is led by GV with participation from Foundation Capital, Amicus Capital, Pierre Lamond, and others. This round of funding follows a pivot towards creating a new experience for guests and hosts as well as an expansion into new markets. 2nd Address currently offers over 3,200 listings in six major U.S. cities: Boston, Chicago, Los Angeles, New York, the San Francisco Bay Area, and Washington, D.C.

“Our mission is to help business travelers find quality long-term stays that feel like home,” said 2nd Address CEO, Chung-Man Tam. “Whether on long-term projects, opening new offices, or relocating to a new city, we bring business travelers across all industries a new kind of experience - being in a comfortable home in a welcoming neighborhood vs. a sterile corporate housing option far from work.”

2nd Address also offers unique value to property owners, helping them find reliable guests for longer periods of time than the typical short-term turnover.

“The U.S. corporate housing market is roughly $18 billion, and it’s evolving quickly as technology-based marketplaces become more commonplace,” said Joe Kraus, partner at GV. “2nd Address has anticipated this need and created a simple, easy-to-use online solution that will upend how business travelers have experienced long-term rentals in the past.”

For CEO Chung-Man Tam’s blog post on what this round of funding means for 2nd Address, please visit https://blog.2ndaddress.com/on-the-move.

About 2nd Address
2nd Address is a leading online marketplace for long-term rentals for working professionals. The company currently offers listings in Boston, Chicago, Los Angeles, New York City, the San Francisco Bay Area, and Washington, D.C. They are based in San Francisco. For more information, please visit http://www.2ndaddress.com.

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Ashley Seashore
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