AvantStay receives $20M from venture capital

AvantStay Inc., a hospitality tech startup based out of Hollywood, has announced a Series A financing round led by venture capital investor, 3L Capital ending with $20 million.

AvantStay, which operates a platform to help group travelers find accommodations, recently announced the raise. The company looks to use the funding to advance its rental technologies and acquire more properties across the country for clients to rent.

“Every aspect of AvantStay — from the properties, experience and design to the operational technology suite — is raising the bar for how groups travel today, and we look forward to supporting their continued growth and expansion,” 3L Capital Managing Director Dave Leyrer said in a statement.

AvantStay has raised $30 million since launching in 2017. The company operates 150 properties and said it plans to expand into 10 markets across the United States in coming months.

AvantStay has entered into an agreement with Homes & Villas by Marriott International that will allow users of Marriott’s luxury home rental platform to book an AvantStay property.

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