Amidst the current vacation rental climate due to the global pandemic, Vacasa, a vacation rental giant in the US, has announced that it secured $108 million in a Series D funding round.
The round was led by repeat investor, Silver Lake, with participation by other previous investors, Riverwood Capital and Level Equity.
This comes after the company, like many others, had laid off a portion of their staff as well as conducted wage cuts to save money while business dwindled as consumers were ordered to stay at home and travel plans were canceled in droves. Vacasa has yet to disclose the number of employees still working under the brand, or any update on the specifics of this Series D round.
The company has, however, shared data that shows a speeding up travel market as lockdowns begin to lax.
In fact, the Vacasa saw a six-times spike in bookings from April to May. The company also saw the booking window decrease from 142 days in April to 39 days in May.
The real estate industry as a whole is on the upward trend as summer begins and the cases of infected peoples begin to dwindle in numbers, which spells good news for travel booking platforms everywhere.