WeHo’s AvantStay raises $160 million from investors

West Hollywood-based short-term rental firm AvantStay announced this month that they’ve raised $160 million in Series B funding, which will help the company expand, improve its product and launch nationwide.

Founded in 2017, AvantStay now has more than 1,000 properties in its portfolio, three times what the company had only a year ago.

“The industry has seen monumental changes and expansion with new and differentiated offerings for the way people want to travel today,” said Sean Breuner, AvantStay founder and CEO. “This round of funding serves as a powerful catalyst to our company’s explosive growth as the leading short-term rental brand in the U.S.

AvantStay signs long-term leases on luxury homes and turns those properties into vacation rentals. This year, Inc. Magazine named it the 6th fastest-growing private company in Los Angeles and the 27th fastest-growing private company in State of California.

The Series B funding was led by Tarsadia Investments and 3L Capital. New investors include Capital One Ventures, Plus Capital, Bain Capital Chairman Stephen Pagliuca, L.A. Clipper Paul George and singer Shawn Mendes.

Series B funding is a stage of fundraising for startup companies in which investors provide capital to the company in exchange for the company’s preferred shares.

AvantStay raised $20 million in Series A funding in 2019.

“With Tarsadia, 3L, and our other investors’ support, we can continue to build a platform that meets the demands of guests who crave unique experiences and meaningful connections. Each of these companies has a deep understanding of the industry and will be instrumental partners in supporting our brand’s mission,” Breuner said.

0 0 votes
Article Rating
About Brandon Garcia
Brandon Garcia is a writer and editor with WEHOville.

View All Articles

Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

7 Comments
Newest
Oldest
Inline Feedbacks
View all comments
Steve Martin
Steve Martin
20 days ago

Just what we need, West Hollywood condo units being turned into glorified Air BnBs.

Larry Block
Admin
Larry Block(@webmaster)
20 days ago
Reply to  Steve Martin

Hi Steve, click on the link on their ad. They don’t own a single property in West Hollywood. What they do is create local jobs and pay taxes in West Hollywood.

Tom
Tom
19 days ago
Reply to  Larry Block

So they can allow landlords to get around local laws against Air BnB type outfits to be the “tenant” doing the leasing (and the turn a blind eye and cash the checks) but hey, it’s not happening here, sooo..

That we know of, of course.

Weho Resident
Weho Resident
20 days ago

Just booked a place in Baja!

Steve Martin
Steve Martin
19 days ago
Reply to  Weho Resident

You should keep us posted; WeHoville really needs to have a fun Travel Section.

Out of touch
Out of touch
20 days ago

So rich people investing in a scheme to use rich people’s properties as vacations for other rich people. They are just mocking us at this point.

Tom
Tom
20 days ago

Great! Ruining affordable housing and neighborhoods since 2017!

Click to Hide Advanced Floating Content

0
0
votes
Article Rating
7
0
Would love your thoughts, please comment.x
()
x