Serviced apartment startup Sonder is beefing up its C-suite as it looks to move past a volatile few months for the travel industry, according to The Real Deal. The company offers apartment style rentals that are managed like a hotel with a concierge available via text.
- New President: The San Francisco-based company has promoted CFO Sanjay Banker by adding “president” to his title to help oversee the company’s growth, including a major expansion in Montreal.
- Other hires: Sonder also said it in a blog post that it hired Satyen Pandya as the company’s first Chief Technology Officer. The firm also added Christian Hempell, an InterContinental Hotel Group alumnus.
- Fundraising prowess: Sonder closed a $170 million round of funding in June 2020, which increased the company’s total valuation to $1.3 billion. The Series E round, which was led by Fidelity Funds, Westcap, and Inovia Capital, brings Sonder’s total venture funding to-date over $560 million.
- Competitors include: The Guild, Domio, WhyHotel, Zeus, Lokal, 2nd Address, MagicStay, and AtHomeHotel. [TRD]