RVshare announced a more than $100 million fundraising round led by KKR, with participation by existing investor Tritium Partners.
The fundraising will provide capital, as well as access to KKR’s operational resources and global network, to help RVshare build on its leadership position and record 2020 growth in the RV rental industry.
RVshare connects travelers looking to experience RV travel with RV owners interested in turning their RV into a second source of income. Since the company’s founding in 2013, RVshare has built a position in the emerging market of RV rentals, with “more than two million days booked on its platform and over 100,000 RVs ranging from luxury motorhomes to campervans to travel trailers”, said the brand
“At RVshare, our mission is to expand the definition of travel, providing a unique, seamless experience that will allow travelers to build lifelong memories with loved ones,” RVshare’s CEO Jon Gray said. “This financing and the support of KKR’s global platform positions us well to invest in future growth and provide the best experience for our owners and renters.”
“We are thrilled to work together with RVshare to build on the success they have achieved to date as a market leader in an important yet underserved category of travel,” said Jake Heller, co-head of KKR’s Technology Growth team in the Americas. “Jon and team have proven they can deliver explosive growth with impressive capital efficiency …”
KKR is making its investment through its Next Generation Technology Growth Fund II. KKR has established a strong track record of supporting technology-focused growth companies “having invested over $2.7 billion in related investments since 2014.”
GCA Global served as a financial advisor to RVshare on the deal.
Photo courtesy RVshare
