Overview

Lyric provides boutique apartment hotels that create a home-like experience for travelers. Their accommodations are designed for a variety of guests, including business travelers and tourists, and are located in major urban centers. Lyric's business model involves leasing and managing residential properties, which are converted into stylish, fully-equipped suites. Each suite features amenities such as fully equipped kitchens, custom-designed furniture, and premium linens, along with curated local guides to enhance the guest experience. Unlike traditional hotels and other short-term rental services, Lyric stands out by emphasizing thoughtful design and personalized experiences, with the goal of making each stay unique and memorable.

Simplify's Take

What believers are saying

• Increased demand for 'bleisure' travel boosts opportunities for extended stay packages.
• Rise of 'workcations' increases demand for work-friendly and leisure accommodations.
• Growing interest in local experiences allows Lyric to enhance guest offerings.

What critics are saying

• Emerging boutique hotel brands offer similar experiences at lower prices.
• Rising real estate costs may impact Lyric's property leasing sustainability.
• Regulatory changes in short-term rental laws could limit Lyric's operations.

What makes Lyric unique

• Lyric offers boutique apartment hotels with a home-like experience for travelers.
• The company focuses on thoughtful design and personalized experiences for unique stays.
• Lyric provides fully equipped kitchens, custom furniture, and curated local guides.

Help us improve and share your feedback! Did you find this helpful?

YesNo

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