PSG, a growth equity firm partnering with software and technology-enabled services companies, has led a $175 million capital raise in Hostaway, a vacation rental software and management system.
Hostaway was founded in 2015 by Marcus Rader, Saber Kordestanchi and Mikko Nurminen to automate the process of property management. Hostaway customers collectively manage more than 100,000 properties in more than 100 countries. The company looks to use the proceeds to drive its growth trajectory, expand globally, grow headcount, strengthen customer service, improve onboarding processes and pursue both organic and inorganic opportunities to expand market share.
Vista Point Advisors served as financial advisor to Hostaway.