AvantStay, a hospitality brand focused on group travel, has raised $20 million in Series A funding. 3L Capital led the round with participation from other investors that include Bullpen Capital, Convivialite Ventures, F-Prime Capital, Zeno Ventures and Olympian Shaun White.
LOS ANGELES – September 18, 2019 – AvantStay, a technology-first hospitality brand revolutionizing group travel, today announced it has raised a $20 million Series A financing round led by 3L Capital. Additional investors in the round include: Bullpen Capital, Convivialite Ventures, F-Prime Capital, Zeno Ventures and Olympian Shaun White. The funding will be used to expand AvantStay’s portfolio of properties nationally, enhance its technology suite to deliver a world-class customer experience and scale its operations team.
The company also announced that its properties will soon be available for booking on Homes & Villas by Marriott International, a home rental platform that offers travelers access to luxury and premium homes in exceptional destinations. Home & Villas by Marriott International works with a select number of operators and chose AvantStay to join its network after an extensive audit process to ensure its properties met the company’s high standards for regulation, design and amenities. Each home available on Homes & Villas by Marriott International participates in Marriott Bonvoy, the company’s loyalty program, enabling members to earn and redeem points for stays at Marriott International’s more than 7,000 hotels and over 1,000 homes.
“Group travel has become an increasingly important market for short-term rentals, and it’s our mission to create a new standard that empowers our guests to have the perfect experience every time,” said Sean Breuner, founder and CEO, AvantStay. “3L’s extensive track record helping consumer companies scale to deliver world-class experiences and deep knowledge of the space make them a great partner as we continue to build on our success.”
“Hospitality and travel continue to evolve together, and AvantStay has positioned itself as a clear leader in the industry,” said Dave Leyrer, co-founder & managing partner, 3L Capital. “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.”
Founded in 2017, AvantStay is a premier hospitality brand designed for the way people travel today. It currently operates nearly 150 properties and more than 750 rooms in the U.S., with plans to expand to 10 additional markets in the coming months. Its new agreement with Homes & Villas by Marriott International offers another trusted platform to book AvantStay properties in addition to Airbnb, Vrbo, HomeAway and more. As a technology-first hospitality company, AvantStay has developed their own technology suite to operate their customer-first business model effectively – including Stay, a proprietary group booking platform; Butler, an integrated mobile-first concierge app; Compass, an in-home tablet and Voyage, an operational platform – to ensure both guests and homeowners have a seamless experience.
Founded in 2017 by Sean Breuner and Reuben Doetsch, AvantStay is the leader in short-term rentals for group travel, merging technology, design and world-class operations to create memorable experiences. AvantStay leases high-end properties, boutique hotels and differentiated commercial spaces in some of the most sought-after destinations, converting them into high-performing short term rentals, with nearly 150 properties and more than 750 rooms across the U.S. The company and is based in Los Angeles. For more information on AvantStay and a list of available properties, visit https://avantstay.com/.
3L Capital partners with CEOs and founders of expansion-stage companies in the technology, consumer and data services sectors. The firm provides management teams with the capital, perspective and relationships they need to become market leaders. The firm has offices in Los Angeles and New York.