Sonder raises $225 million

Serviced apartment startup Sonder has raised $225 million at a valuation north of $1 billion. The equity round was led by Valor Equity, Westcap and Tao Capital Partners.

• What they do: The company offers apartment style rentals that are managed like a hotel with a concierge available via text.

• Competitors: The Guild, Domio, WhyHotel, Zeus, Lokal, 2nd Address, MagicStay, and AtHomeHotel.