PORTLAND — Vacasa’s investors are pouring an additional $64 million into the Portland vacation rental management company as it contemplates an initial public offering.
Founded in 2009, Vacasa has now raised $207.5 million altogether — all of it since 2016. The company said Thursday it will use the additional money to fund further expansion, including the acquisition of smaller rental management businesses.
“From our perspective there’s always value in having a stronger balance sheet,” said Eric Breon, Vacasa’s founder and chief executive. He said Thursday’s investment values the company at a “significantly” higher level than Vacasa’s last investment, a $103.5 million round exactly one year ago.
Vacasa manages vacation homeowners’ properties and markets their rentals online, using technology to adjust pricing based on seasonal demand and other factors. It manages 10,600 rental properties in 23 states and 16 countries.
