Property management company AvantStay announced yesterday it has raised $5 million in a Series A funding round led by Bullpen Capital, bringing their total funding to $6 million. AvantStay manages 60 short-term rentals that cater to groups, particularly Millennials, and specializes in offering local experiences with each stay. The company is currently operating in the Coachella Valley, Paso Robles, Scottsdale, Temecula, San Diego, and Tahoe markets.
Other investors in the round include F-Prime Capital, Zeno Ventures, and Convivialité Ventures, with continued participation from existing investors Abstract Ventures and Presidio Bay Ventures.
Founded in 2016, AvantStay manages operations from its offices in San Francisco and Los Angeles through tech automation to communicate with guests, manage maintenance and cleaning, and provide customer service. The company also works closely with Airbnb on technology initiatives, policy updates, and market demands.
The latest funding will help AvantStay further invest in its operational technology infrastructure, expand to new markets, and grow its inventory to more than 200 homes by the end of 2019.
“For 2019, our focus is on beach towns, deserts oases, mountain areas, and national parks on the west coast,” said Reuben Doetsch, co-founder of AvantStay. On the technology side, the company is working on improving its operational technology to manage hundreds of properties across multiple regions, as well as enhancing the group-focused customer experience, Doetsch said.
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