Sextant Stays Rebrands as Roami and Announces $14m Series A Funding Round
The hospitality brand will use the funding to support strategic vision and expansion as the company continues to adapt to the modern-day Roamer
Miami, FL – March 7, 2023 – Sextant Stays, the next-generation hospitality company, announces its $14 million Series A funding round and simultaneously unveils a rebrand, with the company name changing to Roami. The funding round is led by Vigo Capital, bringing the brand’s total funding to $29 million.
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. 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.
“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 Roami Founder & CEO, Andreas King-Geovanis. “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.”
In the last three years, Roami grew 800% despite the most devastating crisis in hospitality since World War II. Following an explosive year — including its recent recognition on the 2022 Inc. 5000 list, 2022 Forbes 30 Under 30 and South Florida Business Journal’s Fastest Growing Companies 2022 List — the innovative yet human-centered hospitality company had over $40M 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 Roami COO, Brandreth Canaley. “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 over 500 units across South Florida and New Orleans. Roami will use the funding to continue expansion across local markets and beyond.
“It is great to celebrate our fundraise, but more importantly, we are celebrating what’s made this company successful,” said Roami CFO Iskander Karimov. “This is a business that should be funded by the guest, for the guest, and we are staying true to our belief: people, service, profits–in that order.”
Founded in 2016, Roami, formerly Sextant Stays, was born from CEO Andreas King-Geovanis’ belief that travelers should not be forced to choose between two flawed options: cramped and expensive hotel rooms or inconsistent and unpredictable vacation rentals. By managing the entire building – not just a few floors or units – Roami provides a memorable stay without compromise.
“We’re proud to support Roami as they re-imagine the way the world lives, works, and travels” said Kirill Vinogradov at 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,” he added.
Roami is a next-generation hospitality brand that combines the professionalism of hotels and value of vacation rentals. On average, Roami’s spaces are six times larger than a typical hotel room, and are purposefully designed for urban, group travel. By managing the entire building, Roami has complete creative control to design a tech-enabled guest experience that inspires human connection. Visit www.Roami.com for more information.
Carve Communications for Roami - [email protected]