Hostaway, a Finland-based property management software for short-term rentals, has successfully raised $175 million in a funding round led by private equity firm PSG.
This substantial investment is the largest ever raised in the industry and reflects the company's remarkable growth, profitability, and potential of the short-term rental space.
The company plans to utilize the funding to accelerate its expansion, enhance its industry-leading solution, and maintain its commitment to exceptional customer service.
The company also aims to explore strategic acquisitions to further strengthen its position as the preferred property management software in the short-term rental industry.
“We are thrilled to partner with PSG, as we continue to elevate the vacation rental industry and unlock value for property managers beyond what had been thought possible,” says Marcus Rader, CEO and co-founder of Hostaway. “We have operated with incredible speed and efficiency, balancing growth with our current strong profitability, and this investment represents a significant milestone in our journey toward global market leadership. We’ve come a long way, but we are just getting started. The opportunities are endless."
Hostaway serves thousands of active customers in over 100 countries. By expanding capabilities and resources, Hostaway will drive innovation, improve product offerings, and deliver unparalleled value to its customers.
Company: Hostaway Oy
Funding Month: May 2023
Lead Investors: PSG
Company Website: https://www.hostaway.com/
Software Category: Property Management Software
About the Company: Founded in 2015 by Marcus Rader, Saber Kordestanchi, and Mikko Nurminen, Hostaway is an all-in-one vacation rental software solution for growing property managers. They provide tools to automate and simplify marketing, sales, communication, operations, reporting, and accounting. The company’s marketplace features over 100 solutions, and its team can recommend solutions to every imaginable problem. Hostaway customers collectively currently manage more than 100,000 properties in more than 100 countries and partner with leading online travel agencies, Airbnb, VRBO, and Booking.com.