AltoVita lands $9.5M in funding for corporate accommodation platform

Corporate accommodation platform AltoVita - one of PhocusWire's Hot 25 Travel Startups for 2023 - has raised Series A funding of $9.5 million.

The round, which is led by Novum Capital Partners and Fifth Wall, will go towards further expansion with a goal of delivering 2.5 million properties by the end of 2023.

“AltoVita is setting a new standard with a fresh, modern and agile approach when it comes to corporate accommodation technology. Karolina and I are thoroughly blessed to have incredibly supportive investors. Existing investor, Novum Capital Partners, who has already seen firsthand our consistent 4x year-over-year growth over the past few years and the quality of the work that we do at AltoVita, co-led the round,” says Vivi Cahyadi Himmel, co-founder and CEO of AltoVita.

“The partnership with Fifth Wall will unlock immense real estate opportunities to provide unique inventories to meet our corporate demand globally. This fundraise will go a long way as we continue building a technology powerhouse that enables us to attract high caliber talent in tech and product as well as hospitality growth, business development and customer success.”

London-based AltoVita was founded in 2018 and aims to provide the corporate travel community with safe as well as smart accommodation through its technology.

The platform offers market intelligence data for corporates as well as a policy builder and housing management.

Gabriele Gallotti, founding partner at Novum Capital Partners and board observer at AltoVita, adds: “From the first meeting, we were completely bought into Vivi and Karolina’s vision. AltoVita is one of the most capital efficient operations that I’ve seen in many years and the growth AltoVita has achieved is rare, particularly within the current market challenges. The company brings a truly unique offering to the corporate travel market and we couldn’t be happier to see the progress that the team has made over the past year. Our recent investment will give AltoVita the firepower to scale its vision into new markets, and continue to develop its seamless solution for the fragmented corporate accommodation sector.”