Total amount raised
$864.5 Millions
Latest funding date
08/01/2024
Location
Vacasa has successfully raised significant funding through multiple rounds, with notable investors including Davidson Kempner and TPG. The company was acquired by Casago for $128.6 million in a cash deal announced on December 30, 2024.
Keep reading to explore the intricacies of Vacasa's fundraising journey and the investors backing this innovative platform.
What Is Vacasa?
Founded in 2009 by Cliff Johnson and Eric Breon, Vacasa is a prominent player in the property management, real estate, and travel accommodations industries. Headquartered in Portland, Oregon, the company has grown to employ between 5,001 and 10,000 people.
Vacasa manages over 14,000 vacation homes across the U.S., Europe, Central and South America, and South Africa. The company leverages AI-driven tools to ensure consistent experiences, from pricing to post-stay cleaning, offering comprehensive property management and real estate services.
How Much Funding Has Vacasa Raised?
- Series A
- Amount Raised: $5M
- Date: November 2016
- Lead Investors: Assurant Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its property management services and enhance its technology platform.
- Series A
- Amount Raised: $35M
- Date: April 2016
- Lead Investors: Level Equity Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Series B
- Amount Raised: $103.5M
- Date: October 2017
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in technology.
- Series B
- Amount Raised: $64M
- Date: October 2018
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its portfolio of vacation homes and enhance customer experience.
- Series C
- Amount Raised: $319M
- Date: October 2019
- Lead Investors: Silver Lake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and technological advancements.
- Series D
- Amount Raised: $108M
- Date: June 2020
- Lead Investors: Silver Lake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen its market position and invest in AI-driven tools.
- Post-IPO Equity
- Amount Raised: $200M
- Date: December 2021
- Lead Investors: TPG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance its service offerings and expand its market reach.
- Post-IPO Debt
- Amount Raised: $30M
- Date: August 2024
- Lead Investors: Davidson Kempner
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing business transformation and decentralization efforts.
Total Amount Raised: $864.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Davidson Kempner
- Details: Davidson Kempner is a global investment management firm with over 40 years of experience, managing more than $37 billion in assets. The firm employs a multi-strategy approach to fundamental investing and has over 500 employees across seven offices worldwide.
- Investment Focus Areas: Multi-strategy investing.
- Notable Investments: Not publicly disclosed.
- TPG
- Details: TPG is a leading global alternative asset firm founded in 1992. The firm has a diverse set of asset classes, including private equity, growth equity, real estate, and public equity.
- Investment Focus Areas: Private equity, growth equity, real estate, public equity.
- Notable Investments: Not publicly disclosed.
- Silver Lake
- Details: Silver Lake is a global technology investment firm with over $88 billion in combined assets under management and committed capital. The firm focuses on large-scale investments in technology, technology-enabled, and related growth industries.
- Investment Focus Areas: Technology, technology-enabled industries, growth industries.
- Notable Investments: Not publicly disclosed.
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology and technology-enabled businesses. The firm provides capital and expertise to help companies scale and achieve their growth potential.
- Investment Focus Areas: Technology, technology-enabled businesses.
- Notable Investments: Not publicly disclosed.
- Assurant Ventures
- Details: Assurant Ventures is the venture capital arm of Assurant, Inc., a global provider of risk management solutions. The firm focuses on investing in innovative companies that align with Assurant's strategic priorities.
- Investment Focus Areas: Risk management solutions, innovative companies.
- Notable Investments: Not publicly disclosed.
What's Next for Vacasa?
Vacasa's future is brimming with opportunities, starting with its recent $30 million financing and the potential for an additional $45 million. This funding will support the company's ongoing business transformation, which includes decentralizing operations to empower local teams. This shift aims to enhance decision-making in sales, onboarding, revenue management, and marketing, aligning the company's structure with its localized approach to property management.
Future fundraising opportunities are promising, with the option for further investment from Davidson Kempner. This could lead to additional board appointments and further capital to support Vacasa's growth. However, the company faces challenges such as decreased demand for domestic, non-urban vacation rentals and increased competition in the short-term rental market. Financial performance issues, including a decrease in gross booking value and revenue, also pose significant hurdles.
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