Hostfully, a San Francisco-based proptech platform for professional short-term rental (STR) property managers, today announced raising a $4 million seed round led by Disruption Ventures, according to Short Term Rentalz.
The company says it will use the funding to add a mobile app and multi-inventory handling system to its product stack, and to increase the size of its sales, onboarding and customer success teams.
“At Hostfully, we want to make the hard business of short-term rental property management easier and more joyful. The current investment gives us the opportunity to reach more property managers, help them work on the go, and uncover new revenue streams in their existing book of business,” said Margot Schmorak, Hostfully co-founder and CEO.
Founded in 2016, the company offers two STR products, including a management platform and Digital Guidebooks, which enables managers to centralize calendar bookings, adjust pricing, distribute inventory, automate guest messages and collect payments.
Hostfully’s platform is currently used to manage over 40,000 properties in 80 countries, and comes in 15 languages. The company also says its digital guidebooks are viewed by vacation rental travellers more than two million times per month.
It also noted that it is the only U.S. company with preferred partner status with Airbnb, Booking.com and Vrbo, has been climate positive since 2019, and recently won the 2022 Shortyz Award for Best Property Management System.
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“We are at an inflection point in the short-term rental industry with unprecedented growth. We’re thrilled to continue investing in Hostfully as they deliver more enhanced distribution and monetisation capabilities to property managers,” said Elaine Kunda, managing partner of Disruption Ventures.
The round also included participation from Precursor Ventures, Trend Forward Capital, Groundbreak Ventures, Celtic House Asia Partners and several angel investors, and brings the company’s total funding to date to $7 million.
In other recent proptech news, 1Sharpe Ventures closed its inaugural $90 million proptech fund focused on early-stage startups. Steady also secured a $500 million debt facility for its Rent Advance product.