Commercial rental marketplace has raised $16M in a Series A funding round led by Andreessen Horowitz. It has raised a total of $21 million to date, according to Crunchbase.

Founded in 2018 and based in the U.S., Codi works with businesses that have underutilized space and offers an alternative to traditional long-term leases, according to a media statement. The proptech firm also provides property management services in San Francisco, New York and Los Angeles.

“This new age of remote work has changed the calculus for companies that still want a physical space for their teams to collaborate. The office should no longer be a liability but a service—a service that companies can flex up or down based on their growth needs and culture,” said Codi CEO Christelle Rohaut. “We’re changing commercial real estate the same way AWS did for data centers, Gusto for payrolls, and Stripe for online payments,” she added.

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