Guesty, the short-term rental management platform, raises $35M

Firm said it will use latest funding round for new offices, software development

Mar.March 22, 2019 03:00 PM
Guesty CEO & Co-Founder Amiad Soto

The property management platform Guesty has raised $35 million in its latest funding round.

The Series C round brings the total funding for the firm to $60 million.

The company’s software is aimed at helping property managers who operate short-term rentals and vacation rentals run their listings more effectively. The firm says it can streamline different listings channels, create personal websites and handle guest questions and comments.

Viola Growth investment fund led the round, with contributions from Vertex Ventures, Journey Ventures and Kingfisher Investment Advisors among others.

Guesty will use the latest round of funding to open new offices, enhance its software and introduce artificial intelligence into the platform. The firm was founded in 2013 by twin brothers Amiad and Koby Soto.

The company’s expansion comes at a time when home-sharing platforms like Airbnb are battling with cities across the country. In December, the L.A. City Council approved a new set of rules that would open the door for short-term rentals, with restrictions. And this month, a federal appeals court in California ruled that Airbnb and other platforms were liable for listings that violate Santa Monica’s ordinance.

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