After a devastating year for the TravelTech industry - are we beginning to witness signs of an awakening? Israeli startup Guesty, a short-term rental property management platform, announced it will acquire American startup MyVR. Both startups are graduates of the most prestigious accelerator program in the world - Y Combinator.
Acquisition of MyVR was a no-brainer
The Guesty platform automates hosting processes and listings management on platforms like Airbnb, HomeAway, Booking.com or independent sites. From communicating with potential renters to filtering inquiries, the system automates much of the ongoing property management bureaucracy, all on one dashboard.
Now, Guesty expands its activity with the acquisition of American startup MyVR, which enables customers to post assets on multiple platforms simultaneously (such as Airbnb, Expedia, VRBO, Booking.com, and TripAdvisor) and manage bookings through a tailor-made portal.
“Our decision to acquire MyVR was a no-brainer. Like Guesty, MyVR is a Y Combinator alumnus. Their innovative team has developed a cutting-edge product that will help power our growth and bring more standardization to the space,” said Guesty co-founder and CEO Amiad Soto. He also added that “the future looks bright; there is no question that travel is recovering. Our growing team will be there every step of the way continuing to power the diverse businesses of professional hosts and property management companies pioneering the next generation of alternative accommodation across the globe.”
As part of the acquisition, Guesty will onboard MyVR’s entire team based in the U.S., who will join Guesty’s headcount of over 250 employees around the globe. Guesty noted that both companies will continue to operate independently, and customers shouldn’t expect any changes in service or delivery. The companies have yet to publish any details, but according to Pitchbook, MyVR had raised around $7.5 million since its 2012 birth. Guesty, which was founded in 2013 by brothers Amiad and Koby Soto, has raised close to $60 million to date, with the last round coming back in 2019.