Hostaway is a vacation rental management software company that is committed to providing the best possible solutions for property managers and owners alike. Hostaway’s mission is to provide property managers with easy-to-use, flexible, and cost-effective tools to manage their vacation rentals effectively.
Hostaway has secured $175 million, an all-equity round that it will be used to continue developing its business on all fronts: enhancing its platform; expanding its customer base beyond the 100,000 properties managed through it today; recruiting more talent, and making acquisitions. The investment was led by growth equity firm PSG.
Hostaway, Toronto, Ontario, Canada, was founded in 2015 by Marcus Rader, Saber Kordestanchi, and Mikko Nurminen. Marcus Rader, co-founder and CEO of the company, said Hostaway intends to increase its current headcount of 120 to about 200 by the end of the year and is recruiting across all roles. He also noted the fresh funding “opened the door for acquisitions” adding: “In the future when we make decisions about whether we build or partner with companies, we might also acquire companies to achieve the goal, and we’ll be able to offer a broader variety of services in the future as well.”