Home News Israeli property management platform company Guesty pulls in $170m

Israeli property management platform company Guesty pulls in $170m

by admin
0 comment

Israeli property manager Guesty raises $170 million in Series E funding led by New York-based investment firms Apax Digital Funds and MSD Partners and San Francisco-based global firm Sixth Street Growth Did.

Existing investors Viola Growth and Flashpoint also participated in the round.

Guesty announced Tuesday that it will use the funds to grow its global business, deliver new solutions for hospitality operators and secure potential acquisitions. Guesty previously acquired property management platform companies MyVR and YourPorter.

The company’s latest round brings its total funding to over $250 million.

Founded in 2013 by Koby and Amiad Soto, Guesty built a software platform for property managers to list short-term rental properties on popular booking sites such as Airbnb, Vrbo and Booking.com. According to Guesty, the platform “automates and accelerates guest communication, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, frictionless payment systems, accounting and damage protection. To do.”

The company is based in California with offices in Tel Aviv and New York.

Guesty’s funding round Tougher investment climate It was caused by the market downturn that affected the global technology industry.

Guesty CEO Amiad Soto said, “Despite a very challenging funding environment, Guesty’s funding is a vote of confidence in the travel and short-term rental ecosystem.” To support.

“With the popularity of alternative accommodations skyrocketing, Guesty is the clear winner, thanks to our commitment to prioritizing innovation and our ability to help our guests succeed. We look forward to delivering even more value to hospitality managers in the coming months and years as we continue to expand our leadership in the company,” said the company in a statement announcing the Series E round. increase.

Guesty Cited Vantage Market Research issued in June We forecast exponential growth for the short-term rental industry, from $73.9 billion in 2021 to $99 billion in 2028.

Apax Digital partner Dave Evans said in a statement:

said Dan Bitar, Managing Director and Co-Head of MSD Growth. MSD Growth invests globally on behalf of Dell Technologies founder and CEO Michael Dell, his family, and other long-term investors.

said Michael McGinn, partner and co-head of Sixth Street Growth. It invests in companies like Airbnb and Spotify.

Guesty said it is positioned to reach $100 million in revenue within the next year.

It’s not just you.

Support for The Times of Israel is not a transaction for an online service such as a Netflix subscription. The ToI community is for people like you who care. common interest: ensuring balanced and responsible Israeli coverage continues to be provided free of charge to millions of people around the world.

Of course, it removes all ads from your page and unlocks access to great community-exclusive content.But your support gives you so much more: pride in being a part of it. what really matters.

Join the Times of Israel community

join our community

Already a member?Please sign in to hide this

you are an avid reader

That’s why I started The Times of Israel ten years ago. To provide discerning readers like you with must-read articles about Israel and the Jewish world.

So now I have a request. Unlike other news outlets, we do not have a paywall. But the journalism we do is costly, so we invite readers who have come to The Times of Israel to join us and support our work. Times of Israel Community.

For just $6 a month you can enjoy The Times of Israel and support quality journalism no adsand access exclusive content Available to Times of Israel community members only.

thank you very much,
David Horowitz, first editor-in-chief of The Times of Israel

join our community

join our community

Already a member?Please sign in to hide this

FB.Event.subscribe('comment.create', function (response) { comment_counter++; if(comment_counter == 2){ jQuery.ajax({ type: "POST", url: "/wp-content/themes/rgb/functions/facebook.php", data: { p: "2819552", c: response.commentID, a: "add" } }); comment_counter = 0; } }); FB.Event.subscribe('comment.remove', function (response) { jQuery.ajax({ type: "POST", url: "/wp-content/themes/rgb/functions/facebook.php", data: { p: "2819552", c: response.commentID, a: "rem" } }); });

}; (function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));

You may also like