Vacasa, a Portland, Ore.-based vacation rental management company, closed a $103.5m Series B funding.
The round was led by Riverwood Capital with participation from existing investors Level Equity and Assurant Growth Investing and new investor NewSpring. In conjunction with the funding, Jeff Parks, founding partner at Riverwood Capital, joined Vacasa’s Board of Directors.
The company intends to use the funds to bring its offering to more markets, expand its portfolio into new destinations and continue the development of its core technology platform.
Founded in 2009 and led by Eric Breon, CEO, Vacasa manages a portfolio of more than 6,000 vacation homes in the U.S.; Europe; Central and South America; and South Africa. The company offers homeowners full-service property management and financial returns, while providing guests with consistent experiences.
The company, which has more than 1,600 employees, plans to hire 100+ full-time roles over the next 12 months, including software engineers in Boise, Portland, and Santiago; business development and marketing professionals; and field-based roles in vacation rental destinations around the world.