RVShare, the Ohio based company, has raised US$100 million fresh investment in a fundraising round on 21st October 2020. The round was led by KKR with the participation from its existing funding partner Tritium Partners.
The company said this new investment will provide them the needed capital and also the access to Venture Capital’s global network and operational resources. The company aims to connect the travelers who are interested in RV travel with the owners of RV who are willing to convert their RV as a second income source. The company has booked two million plus rental days over its platform and showcases a range of above 100,000 RVs. The range has all sorts of RV travelers including camper vans, travel trailers and even luxury motorhomes.
The growth of RVShare
RVShare has seen an amazing growth over the years after its foundation. And in the pandemic times, the growth of customers has even accelerated as the customers see RVs as a good option to travel in these times. From April to May, the enterprise has seen a 650% increase in booking. The aim of RVShare is to expand the normal definition of travelling. The CEO of RVShare, Jon Gray said, “We are just in the beginning stage where their business can scale and we believe this fresh funding can spark even better growth for them”
They make travelling easier by joining people with RV owners at local level or at the renter’s destination. The RV rental can be booked online with a secure RVShare payment channel. The RVs can be filtered by features, reviews, price and other options.
The RV rental company based in Akron, Ohio was founded in 2013. The company connects the RV renters with the RV owners for daily rentals. It is the world’s very first P2P marketplace for RV rentals that serves 60,000 plus RV owners across the US state. It has thousands of happy customers and a wide inventory that highlights luxury motorhomes to travel trailers. They have the right RV that suits vacations, temporary lodging or tailgating.
The America based global investment firm Kohlberg Kravis Roberts & Co was founded in 1976 and is the Venture Capital that manages several energy, infrastructure, equity, real estate and credit investments. It was founded by Henry Kravis, George R. Roberts and Jerome Kohlberg. The private equity firm is headquartered in New York and has 10 offices across 16 countries. The enterprise had US$148.5 billion assets under its management.
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