Vacasa hits unicorn status with an impressive $319M in Series C round

One of the largest vacation rental managers in the US, Vacasa, has raised $319 million in a strategic investment round, considered the largest Series C round to date in the sector

The investment gives it a valuation “north of $1 billion,” according to the company.

Airbnb – both a competitor and a distribution channel for Vacasa – had the next largest Series C round of $200 million in 2013 (about $220 million in today’s dollars).

Vacasa’s latest funding was led by Silver Lake, with participation from existing investors Riverwood Capital, Level Equity and NewSpring.

Since its founding in 2009, Vacasa has now raised about $526 million and grown its portfolio to more than 23,000 properties in 31 U.S. states and 17 countries – with about 9,000 of those properties coming from Vacasa’s purchase of Wyndham Vacation Rentals that closed last week.

Vacasa plans to use the funding to further develop its technology platform and accelerate expansion into new markets, with the “ultimate goal... to be everywhere guests want to travel.”

Vacasa will also continue to develop its Vacasa Real Estate platform that connects real estate agents, buyers and sellers and has brokerages in markets throughout the United States.

“The opportunity that lies ahead of us is enormous, both on the property management and real estate side of the business,” says Eric Breon, Founder and CEO of Vacasa.

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