PORTLAND, Ore.–(BUSINESS WIRE)–November 14, 2016–
Vacasa, the fast-growing technology-enabled vacation rental management company, today announces that it has expanded its Series A financing to $40 million with an addition from leading risk management provider Assurant. Vacasa will use the Series A extension to accelerate growth domestically and abroad, and to fuel technology development and innovation.
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Founded in Portland, Oregon in 2009, Vacasa offers vacation rental owners a full-service management service, including maintenance, housekeeping, and pricing technology. Vacasa’s proprietary technology systems are backed by dedicated local teams managing daily operations. As a result, homeowners enjoy a hands-off approach to renting their homes and guests are met with a reliable vacation rental experience.
Vacasa bootstrapped its growth for six years, during which the company more than doubled its inventory annually, earning the number nine spot on the Inc. 5000 list in 2014. In April, Vacasa announced its $35 million Series A led by New York-based Level Equity – one of the travel industry’s largest raises in a slow funding year. Since then, Vacasa has landed 14 major vacation rental acquisitions and now manages 4,100+ properties across the U.S., Spain, Italy, Chile, Costa Rica and Belize. The company employs more than 1,400 people globally and pays all U.S. employees a minimum of $15 hourly per the company’s fair wage initiative.
“Vacasa will continue expansion in current and new markets both domestically and abroad,” says Vacasa founder and CEO Eric Breon. “Our goal is to be ubiquitous – offering homeowners around the world hassle-free vacation home management while providing guests with consistently unforgettable experiences.”
“Our strategic growth investment in Vacasa is a testament to our belief in the attractiveness of the large and rapidly growing vacation rental market, as well as our confidence in the Vacasa team to continue to execute on its vision,” says Jeff Flynn, director of growth investing at Assurant.
To learn more about Vacasa, please visit https://www.vacasa.com/.
Vacasa is a technology-enabled full-service vacation rental company with operations in the U.S., Europe, and Latin America. Leveraging proprietary technology, Vacasa drives revenue for homeowners and provides a seamless experience for guests. Founded in 2009 and based in Portland, Oregon, Vacasa has grown from two to more than 1,400 employees in six years, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit https://www.vacasa.com/ or on Twitter @vacasarentals.
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $6 billion in annualized revenue as of September 30, 2016, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.
Kalli Bean, 503-962-9391