Guesty employees.
Solidifying leadership position as the end-to-end solution for short-term rentals.
LOS ANGELES – Guesty, the property management software that simplifies the complex operational needs accompanying short-term rental management, today announced it has raised $35m. in Series C funding, led by Viola Growth with participation from Vertex Ventures, Journey Ventures, Kingfisher Investment Advisors, La Maison Compagnie d'Investissement and existing investors, TLV Partners and Magma Ventures.
The round more than doubles the company's existing funding, bringing the total to $60M, reinforcing its grip on the short-term rental market where property managers are increasingly seeking comprehensive technology solutions to aid them in accomplishing numerous tasks on a daily basis.
Guesty will use the investment to open new offices in key growth markets, enhance product capabilities, introduce AI and machine learning into the platform, and increase its footprint in verticals adjacent to urban properties, including the vacation rental space. The company also plans to build out its already robust Integrations Marketplace by continuing to forge partnerships and successful integrations with third-parties that share the same goal of facilitating seamless, short-term rental management and ultimately, positive guest experiences.
“Guesty's strategic analysis shows that the short-term rental business is a lucrative one – with an addressable market size of $169B in 2018 alone,” said Amiad Soto, Co-Founder & CEO of Guesty. “The increasing growth of the space, thanks to sites like Airbnb, Booking.com and many more, has resulted in short-term lets commanding around 30% higher profits than long-term leases. With such a high demand from travelers, Guesty is filling a crucial role in helping property managers more efficiently manage their overwhelming list of to-dos and more importantly, grow their businesses. This market will only continue to grow as we see the ripple effect of trends like remote working, the shared economy and travel becoming more of a commodity, rather than a luxury.”
Since graduating from Y Combinator in 2014, the company has continued to build an innovative ecosystem in a fragmented market, providing customers worldwide with a holistic, one-stop-shop where they can manage their properties across a variety of online travel platforms.
Today, Guesty is utilized by both property managers and property management companies in 70+ countries. These customers report a 150% increase in revenue annually, a 100% increase in listings annually and 50 or more hours saved per week, on average, due to Guesty’s features. These features include task automation, 24/7 guest communication services, a unified inbox to manage all guest correspondence in one place, and more.
"Guesty was the first to recognize the potential of the property management market and has quickly become a category leader with its vertical-oriented, end-to-end approach,” said Natalie Refuah, Partner at Viola Growth, who will join Guesty’s Board of Directors. “Technology and AI continue to disrupt the innovation stack, acting as a catalyst to the digitization of “traditional” areas such as real estate and travel. Guesty is leading the charge, fostering a more seamless experience for property managers while providing clear advantages to customers and ultimately, their guests. We believe that with its experienced and elite executive team, Guesty is fully equipped to modernize and revolutionize the property management ecosystem.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
