As consumer interest in domestic travel and road trips has
accelerated due to COVID-19, recreational vehicle rental marketplace RVshare has
landed $100 million to expand.
Led by KKR with participation from existing investor Tritium
Partners, the round brings the company’s total capital raised to $150 million, including from a $50 million round in 2018.
Along with cash, the company says the investment also gives it
“access to KKR’s operational resources and global network” to help RVshare
“At RVshare, our mission is to expand the definition of
travel, providing a unique, seamless experience that will allow travelers to
build lifelong memories with loved ones,” says RVshare CEO Jon Gray.
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“I am very proud of our employees and thankful to our
customers for helping build RVshare into the market leader it is today - and we
are only at the beginning of where our business can go. This financing and the
support of KKR's global platform positions us well to invest in future growth
and provide the best experience for our owners and renters."
Founded in 2013, RVshare has more than 100,000 vehicles available
for rent through its platform, ranging from campervans to travel trailers to
“RVs are the preferred accommodation for the more than 40
million U.S. households that go camping each year. Younger generations of
travelers are discovering and embracing domestic travel and RVshare is
providing a seamless marketplace experience where RV owners can share their
passion for camping and unlock the value of their assets,” says Ben Pederson, principal
with KKR's Technology Growth team.