A big scale-up Series B round worth $160 million has been secured by alternative accommodation platform AvantStay.
It's a sizeable jump from the U.S.-based company's last investment of $20 million, a Series A coming in September 2019.
The latest round is being led by Tarsadia Investments and 3L Capital.
3L Capital led the 2019 investment, with Bullpen Capital and Convivialite particpating then and with the new Series B.
AvantStay's total funding now stands at around $185 million (another seed round came in 2018, worth $5 million).
The company says it has over 1,000 properties in more than 100 cities in the U.S. and Mexico, with ambitions to use the new funding round to expand the business into new markets.
Other parts of the business to benefit from the windfall include customer service, technology and the launch of what it calls a "brokerage service" to handle buying and selling of rental properties.
Sean Breuner, CEO and founder, says: "The industry has seen monumental changes and expansion with new and differentiated offerings for the way people want to travel today.
"This round of funding serves as a powerful catalyst to our company’s explosive growth as the leading short-term rental brand in the U.S."
AvantStay joins a busy marketplace for alternative accommodation startups, with Sonder and Vacasa arguably leading the pack in terms of profile and their respective corporate moves into public listings via Special Purpose Acquisition Companies (SPACs).
Vacasa achieved its listing last week, with SPAC partner TPG Pace Solutions, giving it a $4.4 billion valuation.