Outdoorsy rides off with $50M to expand its RV rental marketplace

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 Capital.

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.

"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 during 2019.

"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.”