Corporate accommodation platform AltoVita has raised £7.75 million Series A investment.

The London firm, whose customers include Hewlett Packard Enterprises, Google and US government agencies, develops global accommodation technology to help employees of Fortune 2000 companies book and manage smart, safe and sustainable flexible living.

Founded in 2018 by Vivi Cahyadi Himmel and Karolina Saviova, who have lived in over 20 cities between them, the company was born out of the lack of available options for corporate travellers and a desire to standardise and provide quality assurance to the legacy corporate accommodation sector. 

It has achieved 486% year-on-year growth with a global footprint which currently spans 165 countries and 1,553 cities.

Its 2023 mission is to build the largest inventory in the corporate accommodation sector, delivering 2.5 million properties to businesses and employees across 35,000 locations.

The investment is co-led by Novum Capital Partners and Fifth Wall.

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“AltoVita is setting a new standard with a fresh, modern and agile approach when it comes to corporate accommodation technology,” said Himmel. “Karolina and I are thoroughly blessed to have incredibly supportive investors. 

“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 calibre talent in tech and product as well as hospitality growth, business development and customer success.”

AltoVita says all properties on the platform are fully vetted and verified to provide duty of care and compliance.Features include a data analytics and market intelligence tool, policy builder and end-to-end housing management with financial management. 

Gabriele Gallotti, founding partner at Novum Capital Partners and board observer at AltoVita, added: “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.”

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