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Vacasa nets $319 million in backing for vacation rental management

10/30/2019| 2:59:05 PM| 中文

Vacasa expects its revenue to nearly double next year. Bringing on about 9,000 Wyndham units will help with that growth.

Vacasa, a property management service for short-term rentals, said Tuesday it had raised $319 million in investment, led by financing from private equity firm Silver Lake. The vacation rental startup has now raised a total of $526.5 million in private equity funding — more than any other startup of its kind.

The company, based in Portland, Oregon, said the deal places a “north of $1 billion” valuation on the company, making it the short-term rental management sector’s first “unicorn.”

“Our goal has always been to be everywhere our guests want to travel, and while we’ve achieved significant growth year-over-year, there are still gaps to fill both in the U.S. and internationally,” said Eric Breon in an interview. “This new financing will help propel Vacasa into our next stage of growth, and allow us to deepen our investment in technology.”

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TAGS: Vacasa | vacation rental | financing
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