Vacation Rental Management Platform Hostaway Raises $175 Million to Pursue Expansion

The funding round was led by PSG Equity, a Boston-based firm that invests in growth-stage software businesses. Miami-based Hostaway, which also has offices in Toronto, Helsinki, and Barcelona, was founded in 2015 by Marcus Rader, Saber Kordestanchi and Mikko Nurminen to automate and simplify the process of property management, helping property managers scale and grow their businesses. Earlier this year, it signed a distribution partnership with global travel technology provider Amadeus. “We are impressed with the quality of the Hostaway team, their vision and execution in building what is, in our view, a highly differentiated category leader with multiple levers of value creation,” said Edward Hughes, managing director at PSG. “We believe the company has a significant opportunity to lead this industry, as it continues to scale its integrated platform, expand globally and help its customers meet the growing demand in the short-term rental market.