Airbnb hospitality management service Hostmaker has raised $1.1 million in funding, led by Initial Capital and existing investors DN Capital and DSG Consumer Partners.
The UK-based startup, founded in 2014, provides a hospitality management service for short term rentals for homeowners where they can manage their accounts, listings, cleaning, and maintenance much like a traditional hotel. It’s currently active in the UK, France, Spain, and Italy and claims to have seen a 400% year-on-year growth.
The new funds will be used to further develop the tech behind the service and boost its expansion into more European cities.
“Hostmaker is now making hosting easy for nearly a thousand hosts across four major European Airbnb destinations - London, Paris, Rome and Barcelona, and we now have additional cities in the pipeline,” said Nakul Sharma, founder and CEO. “This new backing from our supportive investor group will allow us to further invest in technology to improve customer experience. We’ll also continue to build our talented hospitality operations team.”
Alvaro Alvarez del Rio of new investor Initial Capital added that it believes Hostmaker’s service is taking advantage of a growing area hospitality technology sector.
“We believe Hostmaker’s approach of uncompromising customer service and its independence from external service providers will make it the go-to partner for hosts who want to benefit from short-term lets without all the hassle this process traditionally involves,” he said.
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