Latest investment in Barcelona-based technology firm was led by Octopus Ventures
Rentals software firm Lodgify raises $30 million in Series B funding
by Aidan Poole
Holiday rental software start-up Lodgify has raised $30 million in Series B funding led by Octopus Ventures.
The funding also saw participation from Bonsai Partners, Aldea Ventures, and the Catalan Institute of Finance, along with existing investors Intermedia Vermögensverwaltung and Nauta Capital.
The Barcelona-based firm will use the money to fuel global expansion, product growth and improved customer support.
The investment will power Lodgify’s expanding set of tools and services that hospitality firms depend on, furthering the firm’s mission to empower hosts and rentals globally to grow their operations with technology, according to the company.
Dennis Klett, chief executive and co-founder of Lodgify, said: “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.”
Lodgify offers a solution to help hosts generate more bookings and manage them in one place.
The company’s Software-as-a-Service (SaaS) platform features a website builder, allows hosts to accept bookings and payments, and has API integrations with vacation rental channels including Airbnb, Vrbo, and Booking.com.
Uthish Ranjan, principal at Octopus Ventures, said: “Lodgify has carved out a leading position for itself 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.”
Andrés de la Morena of Bonsai Partners said: “Their ability to support both individual hosts and fast-growing property management businesses to generate more bookings and save time via automation with their comprehensive software suite is impressive.”
Lodgify recently expanded its R&D team to over 70 employees and the entire company to almost 200, which will fuel the company’s product development and release of new features.
Ranjan and Morena have both joined the firmʼs board of directors.