Dive Brief:

• Year-old startup Storefront said Monday that it will receive $7.3 million in funds led by venture capital firm Spark Capital. Storefront also raised $1.6 million in seed funding last summer.

• Storefront has been dubbed the “Airbnb” of commercial space because it brings together empty or available commercial space with retail operations and others looking for temporary use. Space can be rented daily, weekly, or monthly. For every dollar of rent, retailers make $7 in sales, according to Storefront.

• More than 1,000 businesses have turned to Storefront for temporary locations in sometimes unique spaces in New York and San Francisco, and the enterprise is now also moving into Los Angeles.

Dive Insight:

As retailers try to figure out the magic formula in balancing e-commerce with brick-and-mortar, an enterprise like Storefront makes it easier to mix things up with opportunities for short-term leases on spaces. Retailers can get creative, test innovations of their use of brick-and-mortar space, and entice shoppers through the doors of temporary boutiques and pop-ups.