Angel Host Raises US $ 5.2 Million to Capitalize on Peak Vacation Rental Industry
Host Angel closed its seed funding round in August with US $ 5.2 million led by White Star Capital and joined by Desjardins Capital, Panache Ventures and other undisclosed investors.
The Montreal startup was founded in 2019 and specializes in an “all-inclusive technology-human solution” for the vacation rental management industry. Its technology allows its users to delegate the tasks of ad creation, algorithmic optimization, dynamic pricing, 24/7 customer service, and more.
Angel Host uses data pricing and performance analytics to generate ads optimized for all major booking platforms, such as AirBnb and Booking.com.
The company said its new capital was intended to “capitalize on the growing needs of the short-term and vacation rental industry.”
According to a report According to AirDNA released in May, the short-term rental market in the United States has returned to 2019 levels after being hit by the COVID-19 pandemic due to travel restrictions.
“In April 2021, demand increased 66.4% from 2020 levels and 5.4% from 2019 levels, marking the first month since March 2020 that demand has outperformed 2019 performance.” , indicates the report.
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Mateo Bradford, Strategic Partnership and Business Development at At Ease Rentals Corporation, told Phocus yarn As the pandemic introduces the geo-flexibility of remote working and living, the demand for short-term rentals will only increase.
Montreal-based companies like Sonder and Airbnb have felt the effects of COVID-19 and changes in the short-term rental market.
With numbers returning to pre-pandemic levels, Sonder has been pushing to go public on NASDAQ in hopes of raising US $ 650 million. The deal, which is expected to close in the second half of 2021, follows a Series E hike at the company in 2020 that raised its valuation to $ 1.3 billion.
On the Airbnb side, CEO Brian Chesky recently explained how the demand for short-term rentals has returned since last summer, but with changes in consumption patterns. He argued that the lines between leisure travel and remote working are blurring and creating new patterns of consumption.