SAN FRANCISCO, Calif. — Outdoorsy has announced it has raised $25M USD in Series B funding led by Aviva Ventures and Altos Ventures. Aviva and Altos are joined by existing investors Tandem Capital and Autotech Ventures. The Series B funding will be used to expand the company’s sales and marketing efforts, broaden its geographic footprint and grow its engineering and product teams.
Outdoorsy is tapping into a new consumer travel trend and building a third lodging category with mobile rooms. Users are able to go where home-sharing sites and hotels cannot go, reaching more places than ever before.
Founded in 2015 and headquartered in San Francisco, Outdoorsy is turning the travel industry on its head, having booked over 263,000 days in the last year alone and generated nearly a hundred million dollars through the platform. The company hosts the largest bookable inventory of RVs worldwide online and is rapidly expanding its global fleet towards its goal of mobilizing the more than 17M idle RVs around the world.
“More than 12 percent of American households own a recreational vehicle, yet rarely use it,” said Jeff Cavins, co-founder and CEO of Outdoorsy. “At the same time, more than 35Mconsumers try to rent a recreational vehicle in America each year with no luck. With Outdoorsy, we leveraged this global, cross-cultural phenomenon of RV travel, especially among Millennials, and brought this multi-billion dollar RV industry online and into the sharing economy.”
Millennials now make up 38 percent of all recreational vehicle usage in North America as part of the larger trend of experiential travel and the desire to have unique experiences. With 40 percent of its user base being under the age of 40, 17 years younger than the industry average, Outdoorsy is tapping into this new consumer travel trend and building a third lodging category with mobile rooms. Users are able to go where home-sharing sites and hotels cannot go, reaching more places than ever before.
“RVs are the perfect gateway experiences for consumers, and the rising demand for campervan and RV travel was a growing trend in which we wanted to invest. Moving this market to an on-demand, online sharing economy was a logical way for us to participate in this new travel market,” said Anthony Lee, Managing Director at Altos Ventures.
“Every on-demand agency in the recreational vehicle market needs to be using Outdoorsy and its pro tools across their operations,” continued Lee. “Outdoorsy built the first solution that definitively shows the world’s largest enterprises down to the at home operator, that they can list and rent safely, while enjoying peace of mind and economic benefits that were never before possible.”
To create this on-demand marketplace, Outdoorsy utilizes state-of-the-art technology. In its first year in market, it introduced Wheelbase, a free, cloud-based and fully-insured RV fleet and rental management application for any business operating from three to 3,000 units. It also built, distributed and parallelized computation and real-time analytics engines to monitor and report on useful real time data, which promises users privacy and security.
“Our marketplace didn’t exist just a few years ago,” says Ryan Quinn, co-founder and head of software development. “The platform is a game-changer in this industry and ensures that our users can enjoy ease of use and peace of mind with every interaction.”
Outdoorsy offers a wide range of services, including on-demand roadside assistance, powerful features such as INSTAmatch and INSTAbook that reduce the time required for searching/booking an RV, automated and integrated DMV verification and the first-ever commercial insurance for peer-to-peer rentals in North America. The insurance offering has now grown to $2M in coverage per rental and is live in the U.S., Canada, Australia and New Zealand. Further, the company recently announced a strategic partnership with Kampgrounds of America to bring camping assets and locations into the Outdoorsy marketplace and introduced an Active Duty Service and Military Veteran Program that waives listing and rental fees for service members.
“Outdoorsy’s commitment to user safety, insurability and trust, along with the deep expertise in the management team, was very attractive for Aviva,” said Ben Luckett, Managing Director of Aviva Ventures “We are pleased to partner with Outdoorsy – their lead in the market, excellent customer service and digital innovation are a great fit with Aviva’s culture and the vision we have for our customers.”
This investment follows a successful partnership between Aviva and Outdoorsy to provide an insurance solution to Outdoorsy users in Canada, helping to bring RV sharing to the country. The company’s customer base includes professional agencies and dealerships across the U.S., Canada, Australia and New Zealand and a rapidly growing community of tens of thousands of private vehicle owners, who are enjoying life changing economic benefits.
For more information on Outdoorsy, visit www.Outdoorsy.com.
SOURCE: Outdoorsy press release