Wheelhouse Raises $16M in Funding

The round was led by NEA and Highgate Ventures with participation from Signalfire, Fifth Wall, Tishman Speyer, 01 Advisors, Certares, RXR, and PAR Capital, plus numerous CEOs & industry leaders from the short-term rental, real estate & prop-tech space.The company intends to use the funds to continue to invest in the tools & features to drive their core revenue management offering. Wheelhouse will focus development efforts on addressing the needs of larger clients and will expand investments into research & software that enables corporate & mid-length stay operators to maximize revenue from their portfolios.

Spun out of parent company Lyric and led by CEO Andrew Kitchell, Wheelhouse is delivering pricing & financing intelligence software to empower professional operators in the short-term, flex, & mid-length rental categories to improve the revenue performance and scalability of their portfolios & businesses.Today, the platform empowers businesses that are building in new brands & businesses at the convergence of the accommodations ($1 trillion in annual revenue) and residential real estate space (a $265 trillionasset class). Wheelhouse’s customer base manages listings ranging from single-family homes, to resorts, to multi-family buildings & even boutique hotels, all of whom are addressing the needs of a growing traveler demo that seeks short & mid-length (1 – 100+ days) accommodations, in spacious, furnished & amenity rich spaces.In addition to its SMB & enterprise customers, Wheelhouse also now powers more than 12 software products via its pricing & demand-alert APIs.The funding news follows the recent launch of “Wheelhouse Worldwide,” a data & software initiative that expanded the company’s presence from being available in major markets in 42 countries, to being available in any market, in 180+ countries.

20/04/2022