Short-term rental property management platform
Guesty
has raised $170 million to scale its business internationally and expand into new verticals.
Apax Digital Funds, MSD Partners and Sixth Street Growth led the round, with existing investors Viola Growth and Flashpoint also participating.
The Series E haul follows Guesty’s $50 million Series D round secured in April of last year, which,
at the time
, the Tel Aviv-based company said made it the highest-funded property management software company serving alternative accommodations.
Since its Series D raise, Guesty says it has tripled its valuation and doubled its revenues. It anticipates reaching $100 million in revenues within the next year.
With the fresh capital, Guesty will scale its operations to meet increasing demand and expand into new business verticals. It will also pursue additional mergers and acquisitions, following its acquisitions of
Your Porter
and
MyVR
last year.
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“Despite an exceptionally challenging fundraising climate, the funding Guesty has raised is a vote of confidence in the travel and short-term rental ecosystem, and an endorsement of our pioneering technology and position as the market leaders of the hospitality and property management software sector,” says Guesty co-founder and CEO Amiad Soto.
“As alternative accommodations surge in popularity, Guesty has come out a clear winner thanks to our commitment to prioritizing innovation and ability to help our customers become more successful.”
According to Phocuswright Research
, the short-term rental market in the United States is projected to surpass $50 billion by 2025 and represent more than one fifth of the U.S. hospitality marketplace. In 2021, 60% of hosts said they use a property management company or service to handle all aspects of their rental, compared to fewer than half of hosts in 2019.
“As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services,” says Dave Evans, partner at Apax Digital.
“Their track record of success and innovation, along with their platform’s growing suite of tools and intuitive user experience, has Guesty positioned to define and consolidate its category, working with hosting businesses of all sizes.”
Founded in 2013, Guesty equips hospitality providers with tools to manage listings from multiple online travel agencies including Airbnb, Booking.com, Vrbo and Agoda.