Walnut, California, a U.S-based property management platform for the short-term rental and hospitality industry, Guesty raised USD 170 million. The Series E round took place on August 16, 2022. Apax Digital Funds, MSD Partners and Sixth Street Growth led the financing for the firm. Meanwhile, existing investors Viola Growth and Flashpoint also participated in the round.
Purpose of funding for Guesty
The company intends to bolster its global footprint with the latest capital infusion. The Series E capital will scale the company’s global operations to meet increasing demand. Meanwhile, Guesty intends to pioneer new solutions that support the growing needs of hospitality operators. Besides, it eyes opportunities to secure critical acquisitions.
Moreover, it has plans to expand into new business verticals to solidify Guesty’s position as the industry’s gold-standard property management platform.
What the CEO has to say
Guesty’s Co-founder & CEO, Amiad Soto, said, “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. As alternative accommodations surge in popularity, Guesty has come out a clear winner thanks to our commitment to prioritizing innovation and our ability to help our customers become more successful. We thank our existing partners Apax – who are increasing their commitment to Guesty – and are excited to welcome aboard MSD Partners and Sixth Street, whose strong track records in our ecosystem make them ideal long-term partners. As we continue to expand globally and grow our market leadership, we look forward to providing hospitality managers with even more value in the coming months and years.”
What the investors have to say
Dave Evans, Partner at Apax Digital, said, “As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services. 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. We are excited to continue partnering with the company as it continues to transform the industry.”
Dan Bitar, Managing Director and co-Head of MSD Growth, said, “In a largely specialized and localized industry, there is a huge opportunity to bring a global standard of service and excellence to hospitality operators of all shapes and sizes. Guesty’s robust product offerings, strong R&D team, and proven ability to scale the business across geographies make it the ideal platform to consolidate the currently fragmented market.”
In addition, Michael McGinn, Partner and Co-Head of Sixth Street Growth said, “The tech-enabled real estate ecosystem continues to grow and mature, and we look forward to joining Guesty on its journey to democratize and further professionalize the property management space. With Guesty’s strong management team, long-term vision, product innovation, and marquee customers and partners, we have full confidence in the company’s ability to cement further its leadership in the world of hospitality and property management.”
In 2013, Amiad Soto and Koby Soto established the company. The U.S.-based firm is the world’s leading property management platform for the short-term vacation rental and hospitality industry. Since its last fundraise, the company has doubled its revenues and tripled its valuation. It previously acquired property management platform companies such as MyVR and YourPorter.
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