Vacasa Raises $103 Million as Venture Capital Commits to the Property Management Sector
Photo Credit: Eric Breon, co-founder and CEO of Vacasa, appeared at the Skift Global Forum in New York City September 27, 2017. The company has just announced a $103 million round of Series B funding. Skift
Skift Take
Vacasa spent years building a business before venture capital came along for the ride at this level. Its fate now depends on how well it executes the sometimes-cumbersome task of on-boarding new properties at scale, and whether it can avoid hubris.
Venture capital has awoken in a big way to the potential of vacation rental property managers.
In the largest round ever in this facet of the vacation rental industry, Vacasa, a vacation rental property management company based in Portland, Oregon, has secured a $103.5 million Series B round of financing.
Riverwood Capital led the round. Past investors Level Equity and Assurant Growth Investing also participated, along with a fresh investor, NewSpring.
Vacasa manages rental properties on behalf of homeowners, covering everything from marketing the property on sites such as VRBO and Airbnb to orchestrating the housekeeping and guest interactions. Its inventory in 13 countries includes properties ranging from modest cottages to $17 million homes.
The injection comes as Airbnb likewise is trying to make inroads in the property management sector with the release of a set
