Guesty, a property management platform for the short-term rental and hospitality industry, has raised $170m in a Series E funding round.
The round was led by the Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round.
Guesty’s 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.
The company deploys open API capabilities and its marketplace of third party integration partners to adapt to specific business and operational requirements. This, Guesty said, provides “comprehensive and bespoke” solutions to cover all property management needs.
The Series E funding round comes at a time of growth, according to Guesty, which added that it has tripled its valuation and doubled its revenues since its last raised. Moreover, in 2021 and 2022, the company launched numerous new products, services and technology partnerships, including advanced accounting tools, protection offerings and payment solutions.
Guesty said the capital will be used to scale the company’s global operations to meet increasing demand, pioneer new solutions that support the growing and changing need of the hospitality industry, secure acquisitions and expand into new business verticals.
Amiad Soto, Guesty’s co-founder & CEO, 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 prioritising innovation and 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.”
Earlier this year, PropTech firm HomeLight raised $60m in capital and $55m in debt financing, as other real estate companies announce mass layoffs.
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