Growth and consolidation in vacation marketplaces has driven investment into the short-term rentals market.
Some analysts are even projecting the short-term rentals market to hit $169.7 billion by 2019 and $193.9 billion by 2021 due to changes in the travel industry, like the Chinese traveling boom, the “millennial traveler” and the cost reduction of air travel.
With all that money getting thrown around, startups are forming to supplement marketplaces like Airbnb. Companies like Guesty, which just raised $3 million, are building tech to help property managers optimize their listings.
Magma Venture Partners (an early Waze investor) led the Series A round, and was joined by Buran VC and AltaIR Capital. The company is using the money to continue scaling and to bring in an executive layer of engineering, marketing, finance and customer success VPs.
The Tel Aviv-based startup, which graduated from Y Combinator in 2014, was co-founded by twin brothers Amiad and Koby Soto after they experienced the hassle of trying to operate their own rentals on Airbnb and OTAs, and wishing there was software to seamlessly cross-manage different…