Barcelona-based Lodgify, a vacation rental SaaS startup, announced on Thursday that it has raised $30M (approximately €30M) in a Series B round of funding led by Octopus Ventures.
Bonsai Partners, Aldea Ventures, and ICF (Institut Català de Finances) and existing investors, Intermedia Vermögensverwaltung and Nauta Capital, also participated in the round.
Besides funding, the Spanish company also announced the appointment of Uthish Ranjan from Octopus Ventures to its board of directors.
Lodgify says it will use the funds to accelerate global expansion, boost product growth and expand customer support.
This investment will also help accelerate the growth of the ecosystem of tools and services that both small and large hospitality firms increasingly rely on to professionalise their operations and scale up.
“This is great news for our customers! Lodgify is a customer-first company, and we will invest all the funds in product innovation and expanding our service offering to help our customers achieve their business goals,” says Lodgify’s CEO and co-founder Dennis Klett.
Lodgify: What you need to know
Founded by Marco D and Dennis Klett, Lodgify offers an all-in-one solution that enables vacation rental hosts to generate and manage bookings from one centralised place.
The company’s mission is to empower any host or vacation rental business worldwide to get started and grow its business through technology.
The company’s SaaS platform helps vacation rental hosts easily build their websites, accept direct bookings and payments, and integrate with all the main vacation rental channels – Airbnb, Vrbo, and Booking.com – without any tech skills.
Lodgify is a preferred software partner for all of these channels. In addition, Lodgify’s Property Management System allows hosts to easily manage all their bookings from their website and various platforms in one centralised place.
Lodgify claims to have grown its R&D team to over 70 employees and the entire company to almost 200 from 43 different nationalities.
The investors
Based out of London, Octopus Ventures is a multi-stage European VC specialising in health, money, deep tech, and consumer. With £1.3B in assets under management and investing over £100M a year, Octopus Ventures is one of Europe’s largest and most active venture investors.
“Lodgify has carved out a leading position in the overlooked SME vacation rental market. We were impressed with their product leadership and customer focus, which has come through in the impressive growth they’ve helped their customers achieve, even through the pandemic period. We’re looking forward to partnering with Lodgify’s experienced leadership team to execute its growth plans, which include an exciting pipeline of new product initiatives.” says Uthish Ranjan, Principal at Octopus Ventures.
“Their ability to support individual hosts and fast-growing property management businesses to generate more bookings and save time via automation with their comprehensive software suite is impressive,” adds Andrés de la Morena of Bonsai Partners.
