Israeli property management platform for the short-term rental and hospitality industry Guesty today announced the completion of a $170 million Series E financing round, led by the Apax Digital Funds, MSD Partners and Sixth Street Growth, with participation of previous investors Viola Growth and Flashpoint.
The new funds will be used to expand the company’s global operations to meet increasing demand, pioneer new solutions that support the growing needs of hospitality operators, secure key acquisitions, and expand into new business verticals to consolidate the company's position in property management.
Tel Aviv-based Guesty was co-founded in 2013 by twin brothers Amiad and Koby Soto. COO and president is Vered Raviv Schwarz.
Guesty 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 ability to help our customers become more successful."
Guesty’s solution enables hospitality providers of all sizes and accommodation types with an all-encompassing platform to optimize and scale operations, manage and distribute inventory - along with the tools, data-driven insights and enhanced services to effectively respond to these market trends and empower them to succeed.
Customers use Guesty to centralize their reservations across all major booking channels, including Airbnb, Vrbo, Expedia and Booking.com. The platform automates and expedites guest communications, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, smooth payments systems, accounting and damage protection. With its large marketplace of third-party integration partners and its open API capabilities, the platform adapts to specific business and operational requirements, providing comprehensive solutions that serve as a one-stop-shop covering all property management needs.
Guesty says it has tripled its valuation and doubled its revenue since its last raise in April 2021. In 2021 and 2022, Guesty launched numerous new products, services and technology partnerships as part of its core platform - including advanced accounting tools, damage protection offerings and payment solutions tailored for property management of short-term rentals. The company says sustained growth will allow it to reach $100 million in revenue within the next year. Guesty has previously acquired property management platform companies MyVR and YourPorter and plans further acquisitions in the near future.
Published by Globes, Israel business news - en.globes.co.il - on August 16, 2022.
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