Outdoorsy, an Austin TX-based company focused on online RV rental and outdoor travel marketplace, raised $120M in equity and debt funding.
The round was led by Moore Strategic Ventures, ADAR1 Partners, Monashee Capital, SiriusPoint (NYSE: SPNT), and Convivialite Ventures, Pernod Ricard, with participation from Altos Ventures, iAngels, and Greenspring Associates. Pacific Western Bank provided the $30m debt facility.
The company intends to use the capital for customer growth in its marketplace, expansion of insurtech division Roamly, and advancement of new partnership with Collective Retreats.
Led by Jeff Cavins, co-founder and CEO, Outdoorsy is an on-demand RV rental and outdoor travel marketplace. Founded in 2015, the company has offices worldwide in the U.S., Canada, Australia, France, and the UK and owns Roamly Insurance Group, an RV-focused company which provides digital insurance products for travelers and recreational vehicle owners, eliminating the commercial exclusion clause that traditionally inhibits online listing activity.
Roamly’s new insurance products launched in private beta last year and will be marketed to Outdoorsy’s customers and new and existing purchasers of recreational vehicles in North America. Global (re) insurer SiriusPoint will be partnering with Outdoorsy on the launch of their new insurtech division.
Earlier this month, Outdoorsy announced it is expanding its outdoor experiences portfolio by partnering with outdoor luxury accommodations operator Collective Retreats. The companies will work jointly to build a suite of offerings designed to cater to road travelers and guests looking for an elevated outdoor accommodation experience.
FinSMEs
25/06/2021