Boatsetter, a Miami, Fla.-based online boat rental marketplace, raised $10m as an extension of Series A funding.
The round was led by WestCap Group and Valor Equity. In conjunction with the funding, Laurence Tosi, an accomplished sailor, former CFO of Blackstone and Airbnb and founder/managing partner of WestCap, joined the board.
The company, which has raised 31m in total funding to date, intends to use the the funds to consolidate its position as a player in the $50 billion peer-to-peer boat rental industry.
Led by Jaclyn Baumgarten, Co-Founder and Chief Executive Officer, Boatsetter is an online boat rental marketplace for yachting, cruising, fishing or sailing, offering insurance coverage for renters, boat owners, and captains in partnership with GEICO.
Through its platform, users can go on boating adventures nearly anywhere in the world, from the coastal waters of California to New York harbor, and from Mexico to Spain.