Total amount raised
$65 Millions
Latest funding date
08/01/2022
Location
Boatsetter has successfully raised funds through multiple rounds, with its most recent being a Series B round on August 1, 2022. The platform connects boat owners with renters, offering a variety of boating experiences and services.
With 23 investors backing the company, including Certares and Level Equity Management, Boatsetter continues to expand its offerings in the boating and travel industries. Keep reading to explore the intricacies of Boatsetter's fundraising journey and the investors supporting this innovative platform.
What Is Boatsetter?
Boatsetter, founded in 2012, operates in the adventure travel, boating, tourism, and travel industries. The company is based in Fort Lauderdale, Florida, and was founded by Andrew Sturner, Jaclyn Baumgarten, and Marc Billings.
With an employee count ranging from 51 to 100, Boatsetter connects boat owners, captains, and renters through its unique boat-sharing marketplace. The platform offers a variety of boating experiences, including captained and bareboat charters, and provides boat insurance through partnerships with GEICO Marine and BoatUS.
How Much Funding Has Boatsetter Raised?
- Series B
- Amount Raised: $38M
- Date: August 2022
- Lead Investors: Level Equity Management, Certares
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features, expand boat inventory, and bring Boatsetter to new markets globally.
- Convertible Note
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional working capital and support ongoing operations.
- Venture Round
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expand market presence.
- Series A
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Venture Round
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and market expansion.
- Series A
- Amount Raised: $10M
- Date: August 2019
- Lead Investors: Valor Equity Partners, WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the fleet and improve user experience.
- Series A
- Amount Raised: $3.3M
- Date: June 2018
- Lead Investors: TheVentureCity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and increase market penetration.
- Seed Round
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and launch the service.
- Series A
- Amount Raised: $13M
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate growth.
- Convertible Note
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial funding and support early-stage operations.
Total Amount Raised: $64.3M
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 focus on helping companies grow from startups to public companies.
- Investment Focus Areas: Software, internet, data services
- Notable Investments: Vacasa
- Certares
- Details: Certares is a private investment firm focused on the travel, tourism, and hospitality sectors. They aim to create value through strategic investments in these industries.
- 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 provide a range of services related to marina operations.
- Investment Focus Areas: Marina properties, related services
- Notable Investments: Not publicly disclosed
- Valor Equity Partners
- Details: Valor Equity Partners is a private equity firm that invests in high-growth companies across various sectors. They focus on operational excellence and strategic growth.
- Investment Focus Areas: Technology, consumer, industrial
- Notable Investments: Tesla, SpaceX, GoPuff
- WestCap
- Details: WestCap is a growth equity firm that partners with visionary leaders to build transformative companies. They focus on sectors with significant growth potential.
- Investment Focus Areas: Technology, financial services, real estate
- Notable Investments: Airbnb, StubHub, iCapital Network
What's Next for Boatsetter?
Boatsetter stands on the brink of significant growth, with opportunities to expand into new markets globally and enhance its product features and boat inventory. The recreational boating industry, valued at $60 billion, offers a vast playground for the company to introduce new on-the-water experiences and attract a diverse range of customers.
Future fundraising rounds seem likely as Boatsetter continues to scale, potentially drawing more investors eager to capitalize on the booming outdoor leisure market. However, the company will need to navigate regulatory challenges and maintain high service standards to stay ahead of competitors.
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