Total amount raised
$65 Million
Latest funding date
08/01/2022
Location
Boatsetter has successfully raised funds over 10 rounds, with the latest being a Series B round. The company is backed by 23 investors, including Certares and Level Equity Management.
Keep reading to explore the intricacies of Boatsetter's fundraising journey and the investors backing this innovative platform.
What Is Boatsetter?
Boatsetter is a private company based in Fort Lauderdale, Florida, specializing in boat rentals and yacht charters. The platform connects boat owners with renters, offering a variety of on-the-water experiences.
Founded in 2012, Boatsetter operates within the Adventure Travel, Boating, Tourism, and Travel industries. The company employs between 51-100 people and has acquired several organizations, including Getmyboat.
How Much Funding Has Boatsetter Raised?
- Series B
- Amount Raised: USD 38,000,000
- Date: August 2022
- Lead Investors: Level Equity Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance product features, expand boat inventory, improve experiential offerings, and enter new markets globally.
- Convertible Note
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support ongoing operations and growth initiatives.
- Series Unknown
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Fuel expansion and enhance platform capabilities.
- Series A
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and improve user experience.
- Series A
- Amount Raised: USD 10,000,000
- Date: August 2019
- Lead Investors: Valor Equity Partners, WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand market presence and enhance service offerings.
- Series A
- Amount Raised: USD 3,300,000
- Date: June 2018
- Lead Investors: TheVentureCity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Develop new features and expand the team.
- Seed
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Kickstart operations and build the initial platform.
- Series A
- Amount Raised: USD 13,000,000
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand market reach and enhance platform capabilities.
- Convertible Note
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage growth and development.
- Seed
- Amount Raised: USD 700,000
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Launch the platform and begin operations.
Total Amount Raised: USD 65,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Level Equity Management
- Details: Level Equity Management is a growth equity firm that invests in software and internet businesses. They co-led Boatsetter's Series B funding round.
- Investment Focus Areas: Software, internet businesses.
- Notable Investments: Not publicly disclosed.
- Certares
- Details: Certares is a private investment firm focused on the travel, tourism, and hospitality sectors. They participated in Boatsetter's Series B funding round.
- Investment Focus Areas: Travel, tourism, hospitality.
- Notable Investments: Not publicly disclosed.
- Suntex Marinas
- Details: Suntex Marinas specializes in the ownership and management of marina properties. They participated in Boatsetter's Series B funding round.
- Investment Focus Areas: Marina properties, related services.
- Notable Investments: Not publicly disclosed.
- Valor Equity Partners
- Details: Valor Equity Partners is a growth-focused private equity firm. They were key investors in Boatsetter's Series A funding round in 2019.
- Investment Focus Areas: Technology, consumer, industrial sectors.
- Notable Investments: Tesla, SpaceX, Addepar.
- TheVentureCity
- Details: TheVentureCity is a global accelerator and venture capital firm. They led Boatsetter's Series A funding round in 2018.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Boatsetter?
Boatsetter stands on the brink of significant growth, with opportunities to expand into new global markets and enhance its product features. The recreational boating industry, valued at $60 billion, offers a vast playground for the company to increase its boat inventory and introduce new on-the-water experiences.
Future fundraising rounds seem likely, given the success of the recent Series B funding. This financial backing could attract more investors, fueling further expansion and innovation. However, challenges such as managing logistics, ensuring safety, and navigating regulatory requirements in new regions may test Boatsetter's resilience.
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