Vacasa, a Portland, Ore.-based vacation rental management company, raised $64m in funding.
The round, which brought total funding raised by the company to date to to $207.5M, was led by existing investor Riverwood Capital with participation from other current investors Level Equity, NewSpring and Assurant Growth Investing.
The company intends to use the funds to strengthen its balance sheet while continuing to expand its geographic reach, adding new programs, and investing in the technology platform.
Founded in 2009 by CEO Eric Breon, Vacasa is a large vacation rental management company which leverages technology to maximize revenue for homeowners and provide experiences for guests. Vacasa and its subsidiaries manage a portfolio of more than 10,600 vacation homes in the U.S., Europe, South and Central America, and Africa.
In July, the company launched Vacasa Real Estate, a network connecting buyers and sellers of vacation properties. It also recently completed the strategic purchase of assets from Oasis Collections, a home-sharing company previously backed by Hyatt, with properties in popular international travel destinations.
It has more than 2,500 employees.