U.S. private equity firm PSG led the all-equity funding round for the short-term rental property management software company. Hostaway plans to use the money to develop new product features, expand to new markets, and possible mergers and acquisitions, Sukh Basra, the company’s vice-president of marketing told The Logic in an email. (The Logic, TechCrunch)
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U.S. private equity firm PSG led the all-equity funding round for the short-term rental property management software company. Hostaway plans to use the money to develop new product features, expand to new markets, and possible mergers and acquisitions, Sukh Basra, the company’s vice-president of marketing told The Logic in an email. (The Logic, TechCrunch)
Talking point: The fresh funds come as tourism and travel picks up post-pandemic and despite a slower tech fundraising market. Hostaway, which currently has 120 employees, 20 of whom are in Canada, also plans to expand its global headcount to 200 by the end of the year, Basra said. Founded by three Finns—CEO Marcus Rader, COO Saber Kordestanchi and CFO Mikko Nurminen—Hostaway’s software helps property managers with marketing, operations, reporting and accounting. The company last raised $1.45 million of seed funding in November 2018 in a deal led by Vendep Capital.
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