With the popularity of short-term rental property services such as Airbnb and Booking.com, many homeowners and other landlords need a way to manage their business. Guesty provides a leading property management platform for the short-term rental and hospitality industry, and it's only getting started. In its latest round of funding, Guesty has raised $170 million from investors led by Apax Digital Funds, MSD Partners, and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round.
Founded in 2013 in Tel Aviv, Israel, Guestly’s platform gives property managers of vacation rentals and resorts alike tools for communications, finances, operation, and growth opportunities. The platform automates and expedites guest communications, reviews, cleaning, and other operational tasks, while also facilitating direct bookings, resource and revenue management, payments systems, accounting, and damage protection.
With its infusion of capital, the company plans to scale its global operations to meet increasing demand, develop new solutions, secure key acquisitions, and expand into new business verticals. It will also look towards acquiring other businesses that complement its strategy. The Series E funding round has possibly tripled its valuation, placing it at an estimated $690 million.