Sextant Stays has rebranded as Roami and revealed a $14-million Series A funding round. The funding round is led by Vigo Capital, bringing the brand’s total funding to $29 million.
“It’s been an incredible six years, and we are grateful for the success we’ve had, but there is much more to accomplish,” said Andreas King-Geovanis, founder/CEO, Roami. “We’re living in the most iterative moment ever to exist in hospitality and are among a handful of brands writing the future of travel. None of this would be possible without our extremely dedicated and talented coworkers who continuously set new standards for the industry.”
The company recognizes that travelers today are roaming the world differently than they did a few years ago—this rebrand is not just a name change but represents the new reality of travel, it reports. Roami is shaping the future of urban travel by providing a space that is purposefully designed for groups, and six times larger than a typical hotel room. Each building is operated entirely by Roami, giving the brand creative control over the guest experience in its mission to inspire human connection.
In the last three years, the company grew 800% despite the most devastating crisis in hospitality since World War II. The company had more than $40 million in revenue in 2022 and continues to grow.
“We’re excited to introduce Roami as a brand built around what we’ve termed ‘Predictive Hospitality,’” said Brandreth Canaley, COO, Roami. “Throughout the customer journey, our technology is collecting the dots and connecting the dots to anticipate guests’ needs before they even know they have them.”
Stemming from this success, Roami has acquired new buildings in existing markets, and recently expanded to West Palm Beach, totaling its inventory to more than 500 units across South Florida and New Orleans. Roami will use the funding to continue expansion across local markets and beyond, it reports.
“We’re proud to support Roami as they re-imagine the way the world lives, works and travels,” said Kirill Vinogradov, founder, Vigo Capital. “The company’s consistent growth since 2020 despite volatile external conditions proves that they truly understand how to satisfy the needs of the modern Roamer and we’re looking forward to seeing their continued growth and expansion.”