The company announced April 27 that it had raised $50 million in a Series D funding round led by the Apax Partners-advised Apax Digital Fund.
Guesty said it would use the funding to hire new employees and refine its product offerings for short-term rental hosts. The company’s software integrates with a range of listing sites, including those operated by Air-bnb Inc. and Tripadvisor Inc., allowing users to manage bookings from multiple sources.
“We are entering an exciting chapter in our company’s life cycle,” Chief Executive Amiad Soto said in a statement.
Soto said the pandemic has boosted demand for short-term rentals “catering to an increased user base that expects the comfort and privacy of a home coupled with hotel-like amenities.”
The vacation rentals industry took a major hit during the early months of the Covid-19 pandemic, with bookings evaporating for many hosts. That trend has reversed in the early months of 2021, according to data compiled by industry analyst AirDNA.
In March, the U.S. occupancy rate for short-term rentals eclipsed 60%, surpassing a record occupancy rate for the month recorded in 2019, AirDNA reported.
The company said it will continue to integrate new features into its platform that streamline various aspects of property management for vacation rental hosts — including the ability to provide contact-free guest check-ins and enhanced cleanings to mitigate potential spread of Covid-19.
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