AvantStay, a specialist in short-term rentals for groups, has announced $20 million in Series A funding.
The round was led by 3L Capital with Bullpen Capital, Convivialite Ventures, F-Prime Capital and Zeno Ventures also participating.
Los Angeles, U.S.-based AvantStay plans to expand its portfolio of properties as well as further develop its technology and improve the customer experience.
The company last raised investment capital in late-2018, bringing in $5 million in initial funding led by Bullpen Capital.
AvantStay leases properties, boutique hotels and commercial spaces in the US and converts them into short-term rentals.
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The company has also partnered with Marriott International’s Homes & Villas arm and will be making AvantStay’s properties available for booking on the home rental platform.
Sean Breuner, CEO of AvantStay, says: “3L’s extensive track record helping consumer companies scale to deliver world-class experiences and deep knowledge of the space make them a great partner as we continue to build on our success.”
David Leyrer, co-founder and managing partner of 3L says that AvantStay is “raising the bar for how groups travel today.”
The startup was founded in 2017 and already works with Airbnb, Vrbo, HomeAway and other rental platforms.
The company has also developed in-house technology including Stay, a group booking platform and Butler, a mobile concierge app.