Outdoorsy, the US-based operator of a rental marketplace for recreational vehicles (RVs), completed a $50m series C funding round today featuring Aviva Ventures, the corporate venturing arm of insurer Aviva.
The round was led by Greenspring Associates and also featured fellow venture capital firms Altos Ventures and Autotech Ventures as well as investment manager Tandem Capital.
Founded in 2015, Outdoorsy has built a peer-to-peer marketplace that lets RV owners rent out their vehicles to other users. It also offers related services such as on-demand roadside assistance and holiday financing through lending partner Affirm.
Outdoorsy has also launched Wheelbase, a platform dedicated to professional RV rental companies that facilitates aspects such as inventory management.
The company currently lists approximately 31,000 vehicles on its platform and plans on growing that number to 65,000 as it continues expansion efforts in Europe, Australia and New Zealand. It is also working on additional services to support its core offering.
Outdoorsy raised $25m in a February 2018 series B round co-led by Aviva Ventures and Altos Ventures, with participation from Autotech Ventures and Tandem Capital.
The series B followed $6.5m from Autotech, NFX, Tekton Ventures, assorted angel investors and Outdoorsy’s founder and chief executive, Jeff Cavins, according to an earlier TechCrunch report that also identified Tandem as a returning investor in the February round.
Ben Luckett, managing director of Aviva Ventures, said: “Through the Outdoorsy platform, we are able to provide embedded insurance offerings and premium services whilst removing much of the pain associated with recreational vehicle rental. The customer experience will be much simpler and much cleaner.
“As existing investors, we have seen Outdoorsy scale rapidly and expand their offering in a way that aligns with the vision we have for our customers and we are excited to meaningfully increase our investment in this latest financing.”
