Property management startup Guesty raises $130m to accelerate global expansion
Guesty, the property management software platform for the short-term rental (STR) and hospitality industry, announced a $130 million Series F funding round led by leading global investment firm KKR.
Inovia Capital, together with existing investors Apax Funds, BDT & MSD Partners and Sixth Street, also joined the round, extending their support following Guesty's significant expansion and sustained growth. This new round of funding will support continued development of Guesty's best-in-class enterprise-level platform for property managers and drive market consolidation to grow the company's global footprint. Stephen Shanley, Partner at KKR and Head of Tech Growth in Europe; Lauriane Requena, Principal at KKR Tech Growth, and Dennis Kavelman, Inovia Capital Partner, join Guesty's Board of Directors following this investment.
The STR industry is growing rapidly and is currently valued at $277 billion. The significant shift in the way customers choose to live, work, socialize and travel, has led to growth in demand for STRs outpacing hotels in every quarter since 2022. To meet these consumer demands and the growth and complexity in the number of properties offered as short-term rentals, property managers increasingly utilize end-to-end property management systems, like Guesty.
Operating in over 80 countries, Guesty is the most comprehensive and easy-to-use platform on the market today. Guesty's platform provides both enterprise and SMB property managers as well as individual hosts with the necessary tools to manage the entire rental journey, solving some of their biggest pain points. The company's best-in-class software platform helps property managers advertise and manage their vacation or short-term rental properties, delivering unrivaled guest experiences through a highly intuitive user experience and open API capabilities.
Amiad Soto, CEO and Co-founder, Guesty: "Guesty has enjoyed astonishing five-fold growth during the last three years. We're delighted that this has been recognized by top-tier investors KKR and Inovia, and we're excited to have them onboard alongside our other investors as we enter our next growth period. The surge in those seeking short-term rentals continues and our platform remains at the vanguard of the industry. As we embark on creating the industry's first intelligent property management platform, we'll continue to develop its functionality and AI capabilities to deliver first-to-market features and best-in-class support for our customers."
Guesty's new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. Jonah Mandel joins as VP of Sales to lead the expansion. Additionally, Guesty will invest in catering to the European market, focusing on France, Germany, and Spain, while reinforcing its presence in Australia with customer tailored developments.
Stephen Shanley, Partner and Head of Europe Tech Growth, KKR: "Guesty is a best-in-class operator and one of the clear leaders in the property management sector. There has been a significant shift towards the short- term rental market and this investment will support the company as it continues to meet that growing customer need.''
Lauriane Requena, Principal, KKR Tech Growth: ''Guesty's product is unique in its ability to offer the tools customers require throughout the management process, giving them an incredible platform to continue to expand. We're pleased to have invested in the business to support this next phase of growth, as they look to the significant opportunity to grow the business internationally.''
KKR is making the investment in Guesty primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise. The firm has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, o9 Solutions, Onestream, OutSystems, NetSPI and Restaurant365.
