Guesty, a California-based property management platform for short-term rental and hospitality industry, has picked up $170 million in Series E funding. The round was led by the Apax Digital Funds, MSD Partners and Sixth Street Growth. The round saw participation from existing investors Viola Growth and Flashpoint.
Eyes to solidify its position
The capital raised by Guesty will be used to scale its global operations to meet increasing demand, pioneer new solutions that support the growing needs of hospitality operators, secure key acquisitions, and expand into new business verticals to solidify its position as the industry’s gold-standard property management platform.
Guesty’s Co-founder & CEO, Amiad Soto said, “We thank our existing partners Apax – who are increasing their commitment to Guesty – and are excited to welcome aboard MSD Partners and Sixth Street, whose strong track records in our ecosystem make them ideal long-term partners. As we continue to expand globally and grow our market leadership, we look forward to providing hospitality managers with even more value in the coming months and years.”
“As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services,” said Dave Evans, Partner at Apax Digital. “Their track record of success and innovation, along with their platform’s growing suite of tools and intuitive user experience has Guesty positioned to define and consolidate its category, working with hosting businesses of all sizes. We are excited to continue partnering with the company as it continues to transform the industry.”
“In a largely specialised and localised industry, there is a huge opportunity to bring a global standard of service and excellence to hospitality operators of all shapes and sizes,” said Dan Bitar, Managing Director and co-Head of MSD Growth. “Guesty’s robust product offerings, strong R&D team, and proven ability to scale the business across geographies make it the ideal platform to consolidate the currently fragmented market.”
“The tech-enabled real estate ecosystem continues to grow and mature, and we look forward to joining Guesty on its journey to democratize and further professionalize the property management space,” said Michael McGinn, Partner and Co-Head of Sixth Street Growth. “With Guesty’s strong management team, long-term vision, product innovation, and marquee customers and partners, we have full confidence in the company’s ability to further cement its leadership in the world of hospitality and property management.”
Alternative property management platform
Guesty was founded in 2013 by twin brothers Amiad & Koby Soto, and is an alumni of prestigious startup accelerator, Y Combinator.
Customers use Guesty to centralise their reservations across all major booking channels, including Airbnb, Vrbo, Expedia and Booking.com. The platform automates and expedites guest communications, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, smooth payments systems, accounting and damage protection.
With its large marketplace of third-party integration partners and its open API capabilities, the platform adapts to specific business and operational requirements, providing comprehensive and bespoke solutions that serve as a one-stop-shop covering all property management needs.
With 14 offices serving customers worldwide, Guesty empowers hospitality operators to save time and resources so that they can focus on maximising occupancy, ensuring a great guest experience, and growing their business.
