HostGPO, a Los Angeles, CA-based group purchasing organization and marketplace for vacation rental hosts to procure furniture, supplies, and other services to run their properties, raised $6M in funding.
The round was led by Navitas Capital, alongside OMNIA Partners. Other investors included 75&Sunny, Brian Lee and PAR Capital Ventures.
The company intends to use the funds to accelerate its market position by bringing expertise across technology development, real estate marketplaces, procurement know-how, and supply relationships.
Led by CEO Jeff Iloulian, HostGPO is a members-only marketplace and group purchasing organization (GPO) for the vacation rental, short term rental, and hospitality industries. The company provides operators with a digital platform to procure goods and services at significant discounts, as well as digital tools to streamline the procurement and design process.
HostGPO works closely with a curated group of suppliers (i.e. furniture, appliances, home goods companies, etc.) to aggregate demand and bring them customers within its target segments.