Outdoorsy, a US-based rental marketplace for recreational vehicles (RVs), raised $25m yesterday in a series B round co-led by Aviva Ventures, the corporate venturing unit of insurance provider Aviva.
Altos Ventures co-led the round, investing alongside fellow venture capital firms Autotech Ventures, which closed a $120m corporate-backed fund in July 2017, and Tandem Capital.
Founded in 2015, Outdoorsy operates a peer-to-peer marketplace where users can rent RVs. It processed more than 263,000 bookings for vehicles last year.
The company also provides related services such as on-demand roadside assistance, and automated and integrated driver’s licence verification. Aviva’s investment follows a strategic partnership that offers insurance products to Outdoorsy users in Canada.
The funding will help Outdoorsy boost its sales and marketing activities, expand into new markets and hire additional staff across its engineering and product teams.
Outdoorsy had previously received $6.5m from investors including Autotech, NFX, Tekton Ventures, various angel investors and its founder and CEO Jeff Cavins, according to TechCrunch. Tandem Capital was also named as a returning investor.
Ben Luckett, managing director of Aviva Ventures, said: “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.”