On Demand RV Startup, Outdoorsy Raises $25 Million as Fresh Funding
Outdoorsy, the app like Airbnb for RVs’ is, in it’s very essence, a sharing economy startup connecting owners of RVs with interested renters. Outdoorsy has been all about outdoors and authentic experiences. It has tracked more than 263,000 days of bookings, generating almost a $100 million figure through the platform. 40% of it’s users are under the age of 40. Outdoorsy has also been a favorite because it offers $1M insurance covering to both the owner and the renter, 24/7 RV rental roadside assistance, instant DMV verification, a dedicated customer support team and a user-friendly app like Airbnb. Check out the Outdoorsy website too!
Jeff Cavins, Co-Founder and CEO of Outdoorsy says that “more than 12 percent of American households own an RV, yet rarely use it. At the same time, more than 35M consumers try to rent an RV in America each year with no luck. With Outdoorsy, we leveraged this global, cross-cultural phenomenon of RV travel, especially among Millennials, and brought this multi-billion dollar RV industry online and into the sharing economy.”
Outdoorsy has raised $25 million in Series B funding, led by Aviva Ventures and Altos Ventures and with participation from it’s existing investors, Tandem Capital and Autotech Ventures. The Series B funding will be used to upscale the company’s sales and marketing efforts, expand its geographic footprint and grow its engineering and product teams.
THE INVESTOR’S POINT OF VIEW
“RVs are the perfect gateway experiences for consumers, and the rising demand for campervan and RV travel was a growing trend in which we wanted to invest. Moving this market to an on demand, online sharing economy was a logical way for us to participate in this new travel market,” said Anthony Lee, Managing Director at Altos Ventures. “Every on demand agency in the RV market needs to be using Outdoorsy and its pro tools across their operations,” he continued . “Outdoorsy built the first solution that definitively shows the world’s largest enterprises down to the at home operator, that they can list and rent safely, while enjoying peace of mind and economic benefits that were never before possible.”
Ben Luckett, Managing Director of Aviva Ventures mentioned “Outdoorsy‘s commitment to user safety, insurability and trust, along with the deep expertise in the management team, was very attractive for Aviva. We are pleased to partner with Outdoorsy – their lead in the market, excellent customer service and digital innovation are a great fit with Aviva’s culture and the vision we have for our customers.”
THE CHANGING TREND TOWARDS THE ON DEMAND ECONOMY
The on demand economy is growing at an accelerating pace with every business in every vertical trying to become tech-friendly and develop an app like Airbnb. In such an environment, it would be nothing short of hard to exist for traditional businesses that have no virtual presence. Read more about the On Demand Economy here.
Don’t worry, NextJuggernaut is here to the rescue for all the conventional businesses and the budding entrepreneurs. To get yourself a customizable, user-friendly and cost-effective app like Airbnb or an Airbnb Clone, you can reach out to us at [email protected]! Hoping to here from you soon!