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2nd Address has raised $10.0M across 1 funding round.
Key people at 2nd Address.
2nd Address has raised $10.0M in total across 1 funding round.
Based in San Francisco, California, 2nd Address operates an online marketplace for extended-stay furnished rentals and corporate housing. The platform connects business travelers and relocating professionals with move-in-ready accommodations for stays ranging from 30 days to nine months, offering rates approximately 40% lower than traditional extended-stay hotels. The company scaled its inventory to feature roughly 3,400 listings managed by 650 hosts across five major United States markets. The service caters to enterprise travel managers and corporate clients, securing bookings from prominent organizations such as Google, SAP, and Deloitte. 2nd Address has raised approximately $15 million in total venture capital funding, including a $10 million round led by GV, with additional backing from Foundation Capital. Originally launched as HomeSuite before rebranding in 2017, the company was founded in 2014 by David Adams.
Key people at 2nd Address.
2nd Address has raised $10.0M in total across 1 funding round.
2nd Address's investors include Eclipse Ventures, Longitude Capital, Maveron, New Enterprise Associates (NEA), Peterson Ventures, Pivotal bioVenture Partners, Farzad Nazem.
# 2nd Address: High-Level Overview
2nd Address is a San Francisco-based online marketplace that provides corporate housing solutions for business travelers, corporate relocations, and interns.[1] The company operates a curated platform connecting vetted hosts with professionals seeking extended-stay accommodations in major business centers across the United States. Rather than competing in the crowded vacation rental space, 2nd Address focuses specifically on the underserved market of business professionals requiring stays longer than 30 days, offering furnished apartments, condos, and houses with a technology-driven experience designed to simplify the booking and management process.[4]
The company serves enterprise customers including Google, Facebook, and Microsoft, alongside thousands of smaller businesses.[4] Its core value proposition addresses a genuine pain point: the anxiety and logistical complexity of securing reliable, stylish housing for extended business travel. By combining marketplace liquidity with hospitality-focused technology, 2nd Address aims to make temporary relocation seamless for both guests and property hosts.
# Origin Story
2nd Address was founded in 2015 (originally as HomeSuite) and later rebranded to reflect its evolved positioning.[4] The company is backed by prominent venture capital firms including Google Ventures, Foundation Capital, and Battery Ventures, signaling early confidence in the corporate housing thesis.[4] The rebrand itself represents a pivotal moment: the company shifted from a general marketplace model toward concentrated focus on technology and hospitality experience, narrowing its target market to professionals rather than competing broadly in vacation rentals.[4]
The founding team, led by CEO Chung-Man Tam, articulated a clear market insight: while vacation rental platforms are saturated, few brands specifically serve professionals with extended-stay needs.[4] This positioning allowed the company to carve out a defensible niche rather than compete head-to-head with Airbnb or VRBO.
# Core Differentiators
# Role in the Broader Tech Landscape
2nd Address operates at the intersection of two significant trends: the normalization of remote and distributed work (which increased demand for flexible, extended-stay housing) and the maturation of marketplace platforms (which created opportunities for vertical specialization). Rather than building a horizontal platform, the company recognized that vertical marketplaces—serving specific customer segments with tailored experiences—could outcompete generalist platforms in their niches.
The company also benefits from the broader corporate real estate transformation, where companies increasingly outsource housing logistics for relocating employees and traveling teams. By positioning itself as a "housing partner" rather than a transactional marketplace, 2nd Address taps into enterprise procurement budgets and recurring revenue streams, offering more stability than consumer-focused travel platforms.
# Quick Take & Future Outlook
2nd Address has raised $22.4 million in total funding and currently operates with approximately 48 employees, suggesting a lean, focused operation.[1][6] However, recent revenue estimates ($84k annually according to one source, though conflicting data suggests $10 million in revenue per another)[3][5] indicate the company faces growth challenges or may be in transition.
The company's future likely depends on deepening enterprise relationships and expanding its property inventory in high-demand business centers. As hybrid work models stabilize and companies formalize relocation policies, demand for curated extended-stay housing should grow. However, 2nd Address must compete against both specialized corporate housing providers and the increasing willingness of platforms like Airbnb to serve business travelers directly. Success will hinge on whether the company can build defensible switching costs through superior technology, reliable supply, and strong enterprise partnerships—or risk commoditization as larger platforms expand into its niche.
2nd Address has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Series B in February 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2019 | $10.0M Series B | Eclipse Ventures, Longitude Capital, Maveron, New Enterprise Associates (NEA), Peterson Ventures, Pivotal bioVenture Partners, Farzad Nazem |
