Zeus Living, a furnished apartment provider tailored to business travelers staying 30 days or longer, is reportedly “winding down operations” due to financial struggles amid an increasingly challenging real estate landscape, according to The Information.
According to the report, Zeus Living representatives purportedly told landlords in an email that the company was “winding down operations.” Zeus Living has yet to announce when it will cease operations.
Founded in 2015 in San Francisco, Zeus Living has received more than $110 million in funding over the years.
In 2019, the company secured $55 million in Series B funding from investors, including property rental company Airbnb, Comcast, CEAS Investments and TI Platform Management. Following its Series B funding round in 2019, Zeus Living expanded to the New York City area, with openings in Manhattan and Long Island City. Shortly after its expansion, Zeus reduced its staff by 30 percent amid the Covid-19 pandemic.
In 2021, the company seemingly bounced back and received another $55 million in Series C funding. During that time, the company reported 2021 revenue per available room to be 21 percent higher than 2020.
Zeus Living did not immediately respond to a request for comment.
[email protected] (Angelique Platas)
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