Inspirato Raises $17.5M in Equity Funding
Inspirato, a Denver, CO-based destination for families and friends to rent luxury vacations, has raised $17.5m in equity funding.
The round was led by Kleiner Perkins Caufield & Byers (KPCB), with participation from Access Venture Partners, CrunchFund (read here) and New York Yankees All-Star First Baseman Mark Teixeira.
The company intends to use the capital to add more vacation choices for its members. Launched in January of 2011 by Brent Handler (CEO) and Brad Handler, the co-founders of Exclusive Resorts, Inspirato leases its vacation properties (rather than owning) to keep membership fees low – a structure that eliminates brokers’ fees and enables the club to control the end-to-end vacation experience for members, and add homes and destinations as demand increases.
Access to Inspirato’s personalized travel services and advisors, club-managed portfolio, and discounted rates, is available for an initiation fee of $15,000 and a small annual membership fee of $2,500. The residences are located in destinations including Italy, Mexico, Hawaii, California, South Carolina, the Caribbean and Colorado.
In conjunction with the funding, Ted Schlein, partner at KPCB, will join Inspirato’s board of directors.