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Private Equity Looks to Challenge Airbnb With Vacasa Deal

  • Vacasa raises $104 million as vacation rental market grows
  • Financing is said to nearly double company valuation
The Vacasa website.

The Vacasa website.

Source: Vacasa.com

Vacasa LLC, an online vacation rental company, raised $104 million from a group of private equity firms looking to build up a challenger to Airbnb.

The Portland, Oregon-based startup said it received funding from Riverwood Capital, Level Equity, NewSpring Capital and other backers. The investment, led by Riverwood, nearly doubled the startup’s valuation from the previous round, said two people familiar with the deal. The company declined to disclose the valuation.