Guesty, a Hillsborough, CA-based property management platform, closes $35 million in series C funding to enhance product capabilities, leverage artificial intelligence (AI) and machine learning (ML) through its platform, and improve its footprint into urban properties. The latest investment round was led by Viola Growth with participation from Vertex Ventures, Journey Ventures, Kingfisher Investment Advisors, La Maison Compagnie d’Investissement and existing investors like TLV Partners and Magma Ventures.
Guesty almost doubles its existing funding, bringing the total to $60 million with the latest round of funding. The company expects to boost its grip on the short-term rental market, where property managers are trying to leverage comprehensive technology solutions to support them in accomplishing multiple tasks on a daily basis. Guesty also plans to open new offices in key growth markets to get to know their customer better and increase its footprint across the vacation rental space. To further improve its services, Guesty plans to build out its integrations marketplace by forming partnerships with third-parties that share the same aim of facilitating seamless, short-term rental management and positive guest experiences. The partnerships will also help the company to ease a property manager’s long list of daily tasks by offering dynamic pricing solutions, noise monitoring technology, and smart home systems.
Guesty provides an innovative ecosystem that allows its customers with a holistic one-stop-shop to manage their properties across various online travel platforms. The platform has helped the company to expand its reach to property managers and property management companies in more than 70 countries. The unique features of the Guesty’s platform, which includes task automation, 24/7 guest communication services, and a unified inbox to manage all guest correspondence in one place, and many others have helped its customers to increase their revenue by 150 percent annually. The platform has also helped the customers to improve their listings by 100 percent.