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Hospitality startup Anyplace started life as a marketplace that gives people the option to book hotels or rentals for about 30 days. any place They want.
In early 2022, the company changed to an operator model with its product, Anyplace Select, which is designed for remote workers and corporate travelers to work from anywhere with furnished apartments that include a “complete Well furnished” home office included. It ceased operations of the marketplace in December 2022 to focus on a new direction for the business.
According to CEO and co-founder Satoru Steve Naito, the change has proven to be a smart move for the company. Any location achieved annual revenue run late (ARR) of $6 million in August, he said, which is 6 times more than when we talked to the company in January 2022. And, it is poised to reach $10 million in ARR by early 2024.
To help it reach that goal, Anyplace exclusively told TechCrunch today that it has raised $8.27 million in Series B funding. It was last raised in January 2022 – $5.3 million Series A round Led by GA Technologies.
Jason Calakanis’ Launch Fund tripled its investment by leading Anyplace’s latest venture round. Michael Savino, President of LAUNCH Fund, has joined the startup’s board following the raise, which also includes participation from CapitalX, Gaingels, Riverside Ventures, Potluck Ventures, MSIVC, Freakout Shinsei Fund, Delight Ventures, and several influential individual backers.
Anyplace also obtained a $2 million loan from Silicon Valley Bank.
Naito declined to disclose the valuation of the 30-person company, saying only that it has “almost doubled” from the Series A round.
Currently, Anyplace manages more than 100 units in four cities: New York City, San Francisco, Los Angeles, and San Diego. The annual occupancy rate averages between 80% and 85%.
“We are creating a new category of work-friendly housing,” Naito told TechCrunch.
Anywhere makes money by leasing unfurnished spaces in bulk (in bulk, think five to 10 units) from big real estate companies like Greystar, Avalon Bay and UDR. Before subleasing, Anyplace makes the units “work-ready” by furnishing and installing home office equipment and high-speed Internet in a plan targeting people who work remotely.
According to Naito, its markup depends on the market and list price, but is usually around 50%.
Interestingly, Anyplace doesn’t see itself in competition with Airbnb, which typically offers short-term rentals. In fact, around 50% of its customers come from Airbnb or another similar platform. The startup also recently began listing its properties on Blueground, a furniture apartment management company that also operates a marketplace.
Despite more people returning to office work, Naito is confident there are enough “digital nomads” to give Anyplace plenty of business.
“Big tech tends to bring people back into the office or into hybrid arrangements. But office vacancy rates in San Francisco, New York and LA are still at record highs,” he said. “I believe remote work is here to stay for most companies. And at the same time, the pandemic has also changed the way people work during business trips – even after the pandemic. They are undertaking long journeys. And are still living a nomadic lifestyle, which creates a huge market for us.”
The startup plans to expand to new markets such as Miami, Boston, Austin, and Seattle in the fourth quarter. It’s also working to improve its customers’ experience by providing coffee beans from local coffee shops and other personalized and exclusive local concierge services and recommendations for things like grocery stores or yoga studios.
“Anyplace is not another commoditized apartment company like Blueground, Zeus or The Landing,” Naito said. “They are good at growing their business but their customer experience is becoming commoditised.”
In the future, Anyplace also plans to give its customers the option to purchase furniture or office setups in its units by partnering with various brands.
