Guesty, a property management platform for short-term rental businesses, recently announced that it has raised $130 million in series F funding. The platform helps property managers streamline various aspects of their business, such as marketing, accounting, payments, bookings, and listings on third-party booking sites like Airbnb and Booking.com. The funding round was led by investment firm KKR, with support from Inovia Capital and previous investors Apax, BDT & MSD Partners, and Sixth Street. This follows a previous $170 million series E funding round in 2022.
The funding will be used for several growth plans, including global expansion with a focus on the U.S., Europe (specifically in France, Germany, and Spain), and Australia. Guesty has hired Jonah Mandel as vice president of sales to spearhead its expansion efforts in the United States. The company also plans to complete more acquisitions to consolidate the market of property management technology. Additionally, Guesty aims to expand its products to cater to larger companies that manage longer stays, corporate housing, and fully-serviced properties. The company also plans to enhance its technology to create the industry’s first intelligent property management platform.
Guesty, headquartered in New York City, has 15 offices and over 750 employees worldwide, including a research and development team of more than 250 people. The company operates in more than 80 countries, serving clients of various sizes ranging from large property management companies to individual vacation rental hosts. CEO and co-founder of Guesty, Amiad Soto, stated that the company has experienced significant growth over the past five years, with a five-fold increase in size. In 2022, Guesty was on track to generate $100 million in revenue that year.
With its latest funding round, Guesty aims to continue riding the wave of short-term rental growth by expanding geographically, offering new products, and enhancing its technology. The company is focused on global expansion, with plans to enter new markets such as the U.S., Europe, and Australia. Additionally, Guesty intends to make more acquisitions to strengthen its position in the property management tech market. The company also aims to cater to larger companies managing longer stays and fully-serviced properties.
As Guesty looks to the future, it aims to enhance the functionality and AI capabilities of its platform to deliver innovative features and superior support to its customers. With a commitment to creating the industry’s first intelligent property management platform, the company is dedicated to staying at the forefront of technology in the short-term rental industry. With its growing team of employees and global reach, Guesty is poised for continued success in the evolving landscape of property management for short-term rentals.
