Guesty, a property management platform, has raised $50 million in Series D funding, indicating that the short-term rental industry is on the mend!

Guesty, the leading property management platform that automates and streamlines all complex operational needs associated with short-term rental management, announced today that it has raised $50 million (£36 million) in Series D funding led by the Apax Digital Fund with participation from the AMI Opportunities Fund, both advised by Apax Partners ("Apax"), as well as existing investors Viola Growth, Flashpoint, and Vertex Ventures. for rent

The round brings the company's total funding to $110 million (£79 million), solidifying its position as the most well-funded property management software in the alternative accommodation ecosystem, a competitive market where small and large hospitality brands are increasingly relying on robust tech solutions to professionalize their operations in order to scale and grow.

"We are entering an exciting chapter in our company's life cycle," said Amiad Soto, Co-Founder & CEO of Guesty, "with short-term rentals having gone mainstream as a direct result of the pandemic, now catering to an increased user base that expects the comfort and privacy of a home combined with hotel-like amenities." "Summer reservation volume in the United Kingdom for 2021 is currently 180 percent higher than last year, with August volume only 10 percent lower than pre-COVID, 2019 traffic. These figures will continue to rise, indicating a bright future ahead, and Guesty is looking forward to being there every step of the way to support our customers and an industry that has shown resilience during an unimaginable year in which many businesses were forced to pivot and adjust their business models in order to stay afloat. We've come out stronger as a group that believes in the evolution of travel."

Guesty announced earlier this month that it has purchased MyVR, a property management software firm founded by a Y Combinator grad, to grow the business's already strong reach in North America and bring more standardisation to the field. The company also announced today that it has acquired Your Porter, a property management software firm. Guesty's mission of powering hosting businesses of all kinds - from tiny, family-run companies to enterprise-sized hospitality brands - will be pursued with both acquisitions.

Guesty will use the investment and its expanding team to fuel a year of hypergrowth in key markets, improve its product capabilities to serve diverse customer segments, hire top-tier talent, and, ultimately, be a pillar of support for entrepreneurs who have built businesses on the democratization of hospitality. The firm will also continue to expand its Marketplace of third-party integration partners, which includes anything from digital concierges to remote staff management systems to keyless access solutions, to let customers provide "contact-free" guest experiences from within the Guesty dashboard.

Daniel O'Keefe, Managing Work at Apax Digital, who will join Guesty's Board of Directors, said, "We are tremendously delighted to partner with the team at Guesty to assist accelerate their objective to deliver sophisticated property management solutions to a quickly expanding global ecosystem." "Guesty is a standout competitor in a fast-growing market," said Apax Digital Principal Dave Evans. "With the acquisition of MyVR and Your Porter, and the company's distinctive product offering, Guesty is now the ideal platform to consolidate the industry, working with hosting firms of all sizes," says the company.

Guesty was busy over the last year, improving the platform's features to handle more property types, including multi-unit listings and aparthotels, with the expectation that tourism would resume. The company also aimed to address consumer behavioural patterns that evolved as a result of the pandemic by allowing lengthier stays of one month or longer on the site.

Guesty has continued to build a flexible, smart software in a fragmented sector after graduating from Y Combinator in 2014, providing customers in over 80 countries with an end-to-end solution for managing their portfolio of properties across a range of online travel platforms. Guesty will continue to promote collaboration and creativity in a dynamic ecosystem that is primed for success in the future.

Guesty's Background

Guesty's property management platform offers an end-to-end solution for automating and streamlining the complex operational needs of managing flexible inventory for professional hosts and property management businesses. Users can manage listings from multiple online travel agencies, such as Airbnb, Booking.com, Agoda, Vrbo, and TripAdvisor, and take advantage of Guesty's guest-centric tools, such as the Unified Inbox, Automation Tools, 24/7 Guest Communication Services, Accounting, and Payment Processing, among others. Visit www.guesty.com for additional details.

Apax and Apax Digital (About Apax and Apax Digital)

The Apax Digital Fund invests in high-growth enterprise software, consumer internet, and technology-enabled services firms around the world, specializing in growth equity and buyouts. The Apax Digital team uses Apax's strong tech investing expertise, global network, and specialized operating skills to help digital firms and their management teams reach their full potential faster.

Apax Partners LLP ("Apax") is a major private equity advisory firm with offices across the world. Apax has been working to inspire growth and transform firms for nearly 50 years. The business has raised and advised funds totaling more than $60 billion in commitments. The Apax Funds invest in firms in four worldwide sectors: technology, services, healthcare, and internet/consumer goods and services. These funds provide long-term equity financing to help world-class businesses grow and prosper. Visit www.apax.com for additional details.