A Spanish vacation rental software startup, Lodgify, which empowers property managers to manage and grow their vacation rental businesses, has secured $30 million in Series B funding.
The investment round was led by Octopus Ventures with participation from Bonsai Partners, Aldea Ventures and ICF (Institut Català de Finances) and existing investors, Intermedia Vermögensverwaltung and Nauta Capital.
Global expansion and growth plans
Lodgify will use the funds to accelerate global expansion, boost product growth and expand customer support. Lodgify’s mission is to empower any host or vacation rental business worldwide to get started and grow their business through technology.
This investment will help fuel the expanding ecosystem of tools and services that both small and large hospitality firms increasingly depend on to streamline operations and scale up.
In recent years, Lodgify has grown its R&D team to over 70 employees and the entire company to almost 200 from 43 different nationalities.
This hiring boost will also allow Lodgify to accelerate its product development and release new features at an even quicker pace, in line with the company’s overall plans for the coming years.
“This is great news for our customers! Lodgify is a customer-first company, and we will invest all the funds in product innovation and expanding our service offering to help our customers achieve their business goals,” said Lodgify’s CEO and co-founder Dennis Klett.
“Their ability to support both individual hosts and fast-growing property management businesses to generate more bookings and save time via automation with their comprehensive software suite is impressive,” added Andrés de la Morena from Bonsai Partners.
Appoints new board member
As a part of the investment round, Uthish Ranjan from Octopus Ventures joined Lodgify’s board of directors.
“Lodgify has carved out a leading position for itself in the overlooked SME vacation rental market. We were impressed with their product leadership and customer focus, which has come through in the impressive growth they’ve helped their customers achieve, even through the pandemic period. We’re looking forward to partnering with Lodgify’s experienced leadership team to execute its growth plans, which include an exciting pipeline of new product initiatives.” said Uthish Ranjan, Principal at Octopus Ventures.
Go-to solution for vacation rental property owners
Founded by Marco De Gregorio and Dennis Klett in 2012 in Barcelona, Lodgify offers an all-in-one solution that enables vacation rental hosts to generate more bookings and manage all bookings from one centralised place.
Its software-as-a-service (SaaS) platform includes a website builder that allows vacation rental hosts to easily build their own website and accept direct bookings and payments without requiring any tech skills and seamless API integrations with all the main vacation rental channels, including Airbnb, Vrbo, and Booking.com.
The vacation rental software solution allows hospitality business owners and managers to build their own mobile-friendly vacation rental website and accept direct bookings.
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