Canada: Data-driven, tech-enabled rental maximisation startup Angel Host has announced that it has closed its seed funding round totalling $5.2 million.
The company helps vacation rental property managers and real estate investors to produce above average returns for their property portfolios by using deep data pricing and performance analytics, as well as creating algorithm-based listings optimised for all major booking platforms. The financing round will allow the company to capitalise on the growing needs of the short-term and vacation rental industry.
The funding round was led by White Star Capital. Desjardins Capital, Panache Ventures, and other strategic individual investors also participated in the round.
Since its founding in January 2019, Angel Host has been reinventing the short-term and vacation rental management industry by providing its clients with an all-inclusive tech-human solution. Its unique technology enables its customers to delegate the tasks of listing creation, algorithmic-optimisation, dynamic pricing, 24/7 guest services, and more.
The company has experienced seven consecutive record-breaking quarters, even in the wake of the pandemic in 2020, and has managed to establish a solid base of over 350 properties in seven different countries and growing.
Angel Host co-founder and CEO, Eduardo Mandri, said: “Property managers worldwide, especially those managing anywhere between five and 100 properties, are under tremendous pressure to deliver results in a world that is becoming more and more complex and competitive. Unless you employ the latest technology, have a staff of revenue managers to perform daily rate optimisations, and have a team working around the clock to answer all reservation enquiries, chances are your properties are not achieving their full potential and the big property management companies will be going after your clients.”
The world of short-term and vacation rentals has been evolving very quickly, and the adoption of leading-edge technology to increase efficiencies and revenue is a challenge for both individual owners and property managers. This, combined with a market that is expected to continue its double-digit growth for at least the next five years, is something that caught the interest of White Star Capital and other investors who believe Angel Host is perfectly positioned to tackle this opportunity.
Christophe Bourque, general partner at White Star Capital, said: “We see tremendous growth opportunities in the vacation rental space and strongly believe in the value that Angel Host brings to property managers across the world. The many years of leadership experience that both Eduardo and Veronique bring to the table coupled with their laser focus execution and unique tech-centric approach is what made us advocates from day-one.”
With this round of financing, Angel Host says that it expects to continue building its tech tools and expanding its team of vacation rental professionals.
The company’s co-founder and COO, Veronique Lalonde, said: “We strongly believe that the only way to succeed is by matching best-in-class technology with a highly trained and motivated team. I’m also excited to know that this investment will allow us to continue offering our team amazing growth and learning opportunities, which is at the core of our company values.”
Clients who have experienced its benefits first-hand agree.
Carlson Lisboa, CEO of Tropical Villas in Orlando, said: “Partnering with Angel Host has been the best decision. Their 24/7 multilingual guest services team has taken a load off our shoulders and their dynamic pricing strategies and implementation has helped produce very strong results for our clients in this highly competitive marketplace.”
Based in Montreal, Canada, Angel Host operates in seven countries in America and Europe.