Property management startup Guesty raises $50 million and acquires competitor Your Porter – TechCrunch

Guesty, which has created property management software for hosts on short-term rental platforms like Airbnb and Vrbo, announces that it has raised $50 million in Series D funding.

“In the public markets, there are many players in hotel property management,” said co-founder and CEO Amiad Soto. “The same goes for residential property management. In short term rentals there is no public player – you can bet your money we are aiming for that target.

Over the past year, Guesty has expanded to support other property types, including multi-unit listings and “aparthotels”.

And just as Airbnb executives are predicting a rebound in travel this year, Soto said things are looking pretty good for Guesty’s business; in fact, he predicted it would be “one hell of a year.” For example, the volume of summer bookings in the United States is 282% higher than in summer 2020, and even 32% higher than in summer 2019. In the United Kingdom, summer bookings increased by 180% compared to last year (but down 19% compared to 2019).

“Yes, the pandemic has changed travel, but not necessarily in a bad way on every level,” Soto said. “Certainly for larger hotels there are going to be big changes, but for vacation rentals and boutique-style hotels that offer a different experience, it has made them much more accessible and much more appealing. what our investors believe.

Guesty has now raised a total of $110 million. The new round was led by Apax Digital Fund with participation from fund AMI Opportunities, as well as existing investors Viola Growth, Flashpoint, Vertex Ventures, Kingfisher Investment Advisors and La Maison Partners. Apax Digital CEO Daniel O’Keefe joins Guesty’s Board of Directors.

“We are extremely excited to partner with the Guesty team to help them accelerate their mission to bring sophisticated property management solutions to a rapidly changing global ecosystem,” O’Keefe said in a statement.

Soto added that the money will allow Guesty to continue investing in growth and technology. On the one hand, he said the company already uses machine learning to classify and route 80% of guest messages, and he sees opportunities to expand the use of artificial intelligence in the platform. . The startup also plans to continue developing its third-party integration marketplace.

And Guesty has been busy on the acquisitions front. Earlier this month, it announced the acquisition of MyVR, another Y Combinator-backed property management platform, and today reveals that it has already purchased another property management company, Your Porter. Soto said that with Your Porter’s technology, Guesty will be able to serve hosts ranging from family businesses with a few units to enterprise-wide property management companies.

He added that there will likely be more acquisitions in the future from Guesty: “Instead of duplicating resources, why not share resources? […] and create a much larger product? »