Guesty customers include Airbnb, Vrbo, Expedia and Booking.com.

Guesty, which provides management software for the short-term rental, vacation rental, and hospitality industry, has raised a $170 million Series E round led by Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. Guesty will use the funds to scale its operations, develop new technology and solutions, expand into now business verticals and for strategic acquisitions. (CISION PR NEWSWIRE)

With this raise, Guesty has raised a total amount of $284.5 million.

Since its last raise in April 2021, Guesty said it has tripled its valuation and doubled revenues. It expects to reach $100 million in revenues within the next year. The company has benefited from the exponential growth in the short-term rental industry since the onset of the pandemic in early 2020. Travellers have spent more than $200 billion on short term accommodation in 2021 alone.

The Guesty platform automates and expedites guest communications, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, smooth payments systems, accounting and damage protection.

“Guesty empowers hospitality operators to save time and resources so that they can focus on maximizing occupancy, ensuring a great guest experience, and growing their business,” the company said in a statement.

“As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services,” said Dave Evans, Partner at Apax Digital. “Their track record of success and innovation, along with their platform’s growing suite of tools and intuitive user experience has Guesty positioned to define and consolidate its category, working with hosting businesses of all sizes.”

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