UK: Vacation rental risk management solution Superhog has announced that it has raised £5.5 million in Series A funding.
The round was led by 6 Degrees Capital, Hambro Perks and Solano Partners, and will enable Superhog to grow its product and engineering teams, bring on new senior operations hires, and deploy international hubs in the United States and Australia.
As it seeks to redefine safety and peace of mind, Superhog is on a mission to minimise risks and reduce disruptions. Its cutting-edge products are specifically engineered to provide unparalleled risk management for hosts, property managers and OTAs within the rapidly expanding short-term rental market.
Over the last two years, the company has grown its client base to more than 800 property management companies globally, and in excess of £5m in annual recurring revenue [ARR]. Superhog’s risk management solutions are designed to deliver dramatically reduced incident rates and drive property manager growth that outperforms the industry average.
Superhog founder and CEO, Humphrey Bowles, said: “We are thrilled to have the support and trust of our investors who help us propel technology-led security in short-term rental making it more accessible for property managers, hosts, and guests around the globe.”
Lucas Stoops, partner at 6 Degrees Capital, said: “Superhog blew us away with their incredible growth in recent years. The company has strong unit economics, great scalability and is led by a world-class team. We are excited to join them on their journey.”
Dale Smith, CEO of the SDDE Smith Group, said: “We have been working with Superhog for several years now, and every year the team and the technology have helped us to find new and improved ways of protecting our property owners, protecting our guests, and at the same time increasing our profitability as a property manager.”
The Series A investment will be instrumental in supporting Superhog’s goals for the coming year, which include:
- Technology advancements: Superhog will invest in further enhancing its proprietary risk assessment and protection technology, ensuring a higher level of prevention for all users.
- Market expansion: Superhog will use the capital to extend its market presence across key global markets, especially bolstering its commitment to short-term rental communities in the United States.
- Team growth: The company plans to strengthen its workforce, bringing in additional talent to support its growth initiatives and continue developing groundbreaking solutions.
Superhog enables property managers and hosts to identify and mitigate potential risks, creating a safer and more secure environment for travellers.
Superhog was launched as a sister company to P2P insurer GUARDHOG Technologies in March 2020 with a mission to provide financially “guaranteed” global ID verification services to the vacation rental community.