Israeli property management platform for the short-term rental and hospitality industry Guesty today announced the completion of a $130 million Series F financing round, led by global investment firm KKR. Inovia Capital and existing investors Apax, MSD and Sixth Street, also participated in the round.
The new funds will be used to support continued development of Guesty’s enterprise-level platform for property managers and market consolidation for international expansion. KKR partner Stephen Shanley, KKR tech growth principal Lauriane Requena, and Innovia partner Dennis Kavelman all join Guesty’s board.
Active in over 80 countries, Guesty has developed a comprehensive and easy-to-use platform for the short-term rental property management market. Guesty’s platform provides both enterprise and SMB property managers as well as individual hosts with the necessary tools to manage the entire rental journey, solving some of their biggest pain points. The company’s software platform helps property managers advertise and manage vacation or short-term rental properties, delivering positive guest experiences.
Guesty's new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. Jonah Mandel joins as VP sales to lead the expansion. Guesty will also invest in catering to the European market, focusing on France, Germany, and Spain, while reinforcing its presence in Australia with customer tailored developments.
Tel Aviv-based Guesty was co-founded in 2013 by twin brothers Amiad and Koby Soto. COO and president is Vered Raviv Schwarz.
CEO Amiad Soto said, "Guesty has enjoyed astonishing five-fold growth during the last three years. We’re delighted that this has been recognized by top-tier investors KKR and Inovia, and we’re excited to have them onboard alongside our other investors as we enter our next growth period. The surge in those seeking short-term rentals continues and our platform remains at the vanguard of the industry. As we embark on creating the industry’s first intelligent property management platform, we’ll continue to develop its functionality and AI capabilities to deliver first-to-market features and best-in-class support for our customers."
Published by Globes, Israel business news - en.globes.co.il - on April 10, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.