Austin, Texas-based Outdoorsy has nabbed $50 million in Series C
funding, 11 months after its $25 million Series B round.
Greenspring Associates led this round, with continued
participation from Aviva Ventures, Altos Ventures, AutoTech Ventures and Tandem
Founded in 2015, Outdoorsy says there are more than 18
million recreational vehicles around the world that sit idle most of the year.
Its peer-to-peer marketplace gives travelers access to this form of alternative travel and
lodging and gives RV owners the opportunity to earn money.
The company says it has experienced a 400% increase in
bookings through its platform and more than $250 million in
transactions over the past three years.
"We are interested in marketplace technology companies
that challenge the status quo and create seamless experiences for both owners
and enthusiasts, which is exactly what Outdoorsy has done," says Greenspring
Associates' general partner, John Avirett, who has joined Outdoorsy’s board as an observer.
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"Most people buy an RV that's unused nearly 97% of the
year. We appreciate that Outdoorsy is unlocking these expensive assets for
owners and making them available to the millions of travelers around the world who
crave experiential travel without the burden of ownership.
"We feel strongly
that with Outdoorsy's proprietary technology, suite of premium services,
world-class team of engineers and forward-thinking workforce, the company is
set to become the global leader in the recreational travel market."
Outdoorsy currently operates in eight countries including
Australia, France and the United Kingdom and plans to expand to new markets
"Our business is growing fast across all geographies
and across both our owner and renter base. We've also significantly reduced our
insurance and operating costs, which has contributed to our global leadership
position as a peer-to-peer and professional fleet management platform,” says Outdoorsy
CEO Jeff Cavins.
“Given the size of the opportunity ahead of us and our goal
of making Outdoorsy a global outdoor experiences marketplace, we will invest
more aggressively this year, both in international markets as well as expanding
our platform to include campsites and outdoor travel experiences.”