Overview

Lyric is a hospitality company that runs boutique apartment hotels in major urban centers. It leases and manages residential properties and transforms them into stylish, fully equipped suites that feel like a home away from home. Revenue comes from nightly bookings with pricing that varies by location, demand, and season. The product includes kitchens, custom-designed furniture, premium linens, and curated local guides. Lyric differentiates itself by focusing on thoughtful design and personalized experiences to make each stay unique and memorable. The company’s goal is to provide premium, home-like stays for business travelers, tourists, and other guests seeking a high-quality, curated hospitality experience.

Simplify's Take

What believers are saying

• High guest satisfaction from central locations and wellness facilities boosts bookings.
• Business travelers favor high-speed WiFi and office spaces in urban suites.
• Flexible stays from two nights capitalize on premium short-term demand.

What critics are saying

• NYC Local Law 18 blocks short-term rentals immediately in New York.
• Airbnb captures 60%+ urban bookings, eroding direct revenue in Miami.
• Sonder's 2024 bankruptcy forces lease defaults as occupancy falls below 60%.

What makes Lyric unique

• Creative Suites™ enable work-relaxation transitions for 2-200 night stays.
• Music-themed boutique design near Opera Garnier and Louvre attracts travelers.
• Premium amenities include indoor pool, sauna, hammam, and Nespresso machines.

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Funding

Total Funding

$179.1M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

New Enterprise Associates

Notable Investors:

New Enterprise Associates

$160,000,000

Series B

Apr 2019

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$65M

$100M

$160M

View all funding stages