NewSpring Invests in Leading Vacation Rental Management Company
October 26, 2017
Radnor, PA – October 26, 2017 – NewSpring (the “Firm”), a family of private equity funds, announced today that NewSpring Growth Capital ("NewSpring"), the Firm’s dedicated growth and expansion stage fund, has participated in the $103.5 million Series B financing round of Vacasa, LLC (“Vacasa” or the “Company”), one of the largest full-service vacation rental companies in the United States. The proceeds will be used to expand Vacasa’s footprint into new destinations as well as fuel the continued development of the Company’s core technology platform, which optimizes every step of the vacation rental process for homeowners and guests.
Founded in 2009, Vacasa has grown rapidly, managing vacation rental properties in 17 U.S. states as well as Europe, South and Central America, and South Africa. The Company offers homeowners full-service property management and superior financial returns, while providing guests with consistent world-class experiences. Since its founding, Vacasa has grown to over 1,600 employees worldwide. In support of the Company’s exciting growth plans, Vacasa is currently hiring for over 100+ full-time roles, including software engineers, business development and marketing professionals, and field-based roles in vacation rental destinations around the world.
“The vacation rental market opportunity is enormous and we’ve only just scraped the surface,” said Eric Breon, co-founder and CEO of Vacasa. “Our mission is to be the most trusted vacation rental company and this investment allows us to bring our offering to more markets and provide our homeowners and guests unparalleled service. As we take Vacasa to the next level, we are excited to collaborate with the NewSpring team.”
“We believe that Vacasa is well positioned to not only continue, but to accelerate their impressive growth rate. We are thrilled to partner with the Vacasa management team as they aggressively expand into new markets,” said Marc Lederman, NewSpring General Partner.
The Series B financing included participation from new investor, Riverwood Capital, and existing investors, Level Equity and Assurant Growth Investing.
Vacasa is one of the largest U.S. full service vacation rental companies. Leveraging industry-leading technology, Vacasa drives revenue for homeowners and provides unforgettable experiences for guests. Founded in 2009 and based in Portland, Oregon, Vacasa manages a growing portfolio of more than 6,000 vacation homes in the U.S.; Europe; Central and South America; and South Africa. In eight years, Vacasa has grown from two to more than 1,600 employees, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit www.vacasa.com.