Vacasa, Nation's Second Largest Vacation Rental Company, Expands Series A To $40M
Vacasa, the fast-growing technology-enabled vacation rental management company, today announces that it has expanded its Series A financing to $40 million with an addition from leading risk management provider Assurant.
Vacasa, the fast-growing technology-enabled vacation rental management company, today announces that it has expanded its Series A financing to $40 million with an addition from leading risk management provider Assurant. Vacasa will use the Series A extension to accelerate growth domestically and abroad, and to fuel technology development and innovation. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161114005357/en/ Founded in Portland, Oregon in 2009, Vacasa offers vacation rental owners a full-service management service, including maintenance, housekeeping, and pricing technology. Vacasa's proprietary technology systems are backed by dedicated local teams managing daily operations. As a result, homeowners enjoy a hands-off approach to renting their homes and guests are met with a reliable vacation rental experience. Vacasa bootstrapped its growth for six years, during which the company more than doubled its inventory annually, earning the number nine spot on the Inc. 5000 list in 2014. In April, Vacasa announced its $35 million Series A led by New York-based Level Equity - one of the travel industry's largest raises in a slow funding year. Since then, Vacasa has landed 14 major vacation rental acquisitions and now manages 4,100+ properties across the U.S., Spain, Italy, Chile, Costa Rica and Belize. The company employs more than 1,400 people globally and pays all U.S. employees a minimum of $15 hourly per the company's fair wage initiative. "Vacasa will continue expansion in current and new markets both domestically and abroad," says Vacasa founder and CEO Eric Breon. "Our goal is to be ubiquitous - offering homeowners around the world hassle-free vacation home management while providing guests with consistently unforgettable experiences." "Our strategic growth investment in Vacasa is a testament to our belief in the attractiveness of the large and rapidly growing vacation rental market, as well as our confidence in the Vacasa team to continue to execute on its vision," says Jeff Flynn, director of growth investing at Assurant.