Guesty Raises $170 Million in Fresh Round of Funding
As we enter our next phase of growth at Guesty, I am excited and humbled to announce our latest funding round of $170 million. The travel and short-term rental ecosystem continue to thrive, and we’re proud to have secured this round of financing, a testament to the confidence in the future of our industry, the success of our customers and partners, and Guesty’s leadership of our category.
The infusion of capital comes at a time we’re seeing tremendous demand for our best-in-class technology, service, and support, enabling our customers to successfully manage and grow their business both today and into the future.
We see this as a time to celebrate our customers, partners, and the short-term rental industry at large, all of who are driving forces in helping us to achieve this milestone. We have been supported by so many throughout this journey, receiving valuable feedback and helping us create a best-in-class suite of tools and offerings that help every type of host, property manager, and hospitality operator manage and grow their businesses.
Since the onset of the pandemic in early 2020, the short-term rental (STR) industry has grown exponentially, with travelers spending more than $200 billion on STR accommodations in 2021 alone.
As the ways people choose to live, work, socialize and travel continue to evolve, so does the need for versatile hospitality management technology to handle the complexities of property management and adapt to new, elevated guest expectations.
We’re excited to welcome our new strategic investors, Sixth Street (investors in Airbnb) and MSD Growth, who joined our existing investor, Apax, in leading this round. And we thank our other existing investors, Viola and Flashpoint, for their reaffirmed commitment to Guesty. Our premier roster of long-term strategic partners brings unique value and expertise to our business, as we help shape the future of the hospitality ecosystem.
So, what’s next for Guesty?
We take immense pride in helping propel this industry forward, and will be using the fresh capital to scale our global operations, pioneer new solutions and offerings to support the growing needs of our customers and expand into new business verticals that empower hosts, property managers and hospitality providers of all types and sizes to succeed.
In the last year, we grew our R&D team to over 150 employees, and the entire company to almost 600 – the largest in our industry.
Guesty will continue to grow our industry-leading R&D team to accelerate our pace of innovation, enhancing automation workflows and expanding into new areas like financial and payment solutions, coverage for damage protection, and other verticals that enable customers to manage even more aspects of their business directly from our platform.
We’ll continue to bolster new and existing areas of expertise, providing even greater levels of support that set a global standard of excellence and service in this industry.
As we look optimistically towards the future, many of our customers are already expanding their hospitality offerings to meet consumer demand for flexible accommodations – from short to medium-term stays – as well as increasingly seamless and digitized experiences.
Guesty remains committed to executing our long-term vision, transforming the notion of a PMS to become an all-encompassing operating system that serves the modern needs of hosts and hospitality providers everywhere.
On behalf of the entire Guesty family, thank you for your continued support and cheers to a bright future!