The property management service for vacation rentals Vacasa has announced it has raised $108 million in investment, led by existing investor Silver Lake, which first took a stake in the company last October. The company this will allow it to bring back the vast majority of workers it had furloughed.
The round was smaller than its $319 million Series C, implying a drop in valuation.
The search terms people are using new, relating to COVID, such as ‘superclean vacation rental’ or ‘clean vacation rentals near me with a pool’. Since the crisis, Vacasa has begun practiced stricter disinfection in its cleaning procedures.
CEO Matt Roberts says that the pandemic ‘will probably accelerate the share shift that was already taking place from hotels to alternative accommodations’, which is good for a company that has raised a total of $626.5 million in private equity funding and may be eyeing an IPO.