AvantStay raises $20m in Series A financing round
Los Angeles: Technology-focused hospitality brand AvantStay has announced it has raised $20 million in a Series A financing round led by 3L Capital in its bid to revolutionise group travel.
Additional investors in the round include Bullpen Capital, Convivialite Ventures, F-Prime Capital, Zeno Ventures and Olympian Shaun White.
The funding will be used to expand AvantStay’s portfolio of properties across the United States, enhance its technology suite to deliver a world-class customer experience and scale its operations team.
In the meantime, the firm has also revealed its properties will soon be available for booking on the Homes & Villas by Marriott International platform that was launched earlier this year for travellers to access luxury and premium homes in desirable destinations.
According to AvantStay, the operator was selected to join the Homes & Villas network after an extensive audit process to ensure its properties met the company’s high standards for regulation, design and amenities. Each home available on the platform participates in the Marriott Bonvoy loyalty programme, enabling members to earn and redeem points for stays at Marriott International’s more than 7,000 hotels and over 1,000 homes.
AvantStay founder and CEO, Sean Breuner, said: “Group travel has become an increasingly important market for short-term rentals, and it’s our mission to create a new standard that empowers our guests to have the perfect experience every time.
“3L’s extensive track record helping consumer companies scale to deliver world-class experiences and deep knowledge of the space make them a great partner as we continue to build on our success,” he added.
3L Capital co-founder and managing partner, Dave Leyrer, said: “Hospitality and travel continue to evolve together, and AvantStay has positioned itself as a clear leader in the industry. Every aspect of AvantStay – from the properties, experience and design to the operational technology suite – is raising the bar for how groups travel today, and we look forward to supporting their continued growth and expansion.”
Founded in 2017, AvantStay says it operates in a way to suit modern-day travellers. It currently operates almost 150 properties and more than 750 rooms in the United States, with plans to expand to ten additional markets in the coming months.
Homes & Villas becomes the latest leading platform to book AvantStay properties, following in the footsteps of the likes of Airbnb, Vrbo, HomeAway and more.
AvantStay has developed its own technology suite to operate its customer-first business model effectively and ensure guests and homeowners have a seamless experience. This includes proprietary group booking platform Stay, integrated mobile-first concierge app Butler, in-home tablet Compass and operational platform Voyage.
For more information, visit the AvantStay website here.