NEW YORK–(BUSINESS WIRE)–StayTerra, a platform comprised of premier vacation rental brands for guests in top destinations across America, today announced a strategic growth investment from leading technology and software investment firm Bessemer Venture Partners (“Bessemer”), joining existing investor, Garnett Station Partners (“Garnett Station” or “GSP”), to drive continued value creation across the vacation rental market.

Founded in partnership with Garnett Station, StayTerra operates a platform of premier vacation rental management brands that blend exceptional service with world-class property management for owners and seamless, elevated experiences for guests in multiple sought after vacation markets. The addition of Bessemer as a strategic partner will allow StayTerra to continue growing its platform by leveraging Bessemer’s preeminent technology expertise, as well as its deep understanding of the vacation rental space, to enhance operations across the entire StayTerra platform.

“The Bessemer team recognizes the fundamental value in our mission to build the premier vacation rental company of choice for homeowners and guests, and we are thrilled to bring them on board,” said Mary Lynn Clark, Chief Executive Officer of StayTerra. “By pairing Bessemer’s outstanding track record in technology investing with Garnett Station’s platform building and operational expertise, we’re well positioned to add more premium brands to our platform and better serve our owners, guests and the communities in which we operate. This is aligned with our long-term strategy of scaling StayTerra, while remaining deeply committed to upholding the brand equity of each of our brands.”

“This is an exciting milestone for StayTerra and positions the company for faster, sustainable growth,” said Rafi Haramati, Managing Director at Garnett Station. “Bessemer’s expertise and established knowledge of the vacation rental market complement GSP’s proven platform creation playbook. We see significant opportunity in this highly fragmented market, and we look forward to working alongside Bessemer to tap into potential AI enhancements and data & technology investments to drive organic growth opportunities and elevate homeowner and customer service to provide even more homeowners and guests with best-in-class vacation experiences.”

“We are pleased to have found a like-minded, innovative partner in StayTerra and look forward to working with the GSP team to further capitalize on the untapped potential within the vacation rental industry, an area where we have strong conviction,” said Brian Feinstein, Partner at Bessemer Venture Partners. “We’re eager to support and ensure that each brand in the StayTerra portfolio receives the capital, advanced technology, data solutions and customer service capabilities they need to better serve their local markets.”

The StayTerra platform includes Moving Mountains, a luxury property management and vacation home rentals company in the Colorado Rockies, and Prime Vacations, a leading vacation rental management company that manages over 1,000 properties across multiple independent brands located along Florida’s gulf coastline and surrounding islands.

About StayTerra
StayTerra is a premier vacation rental management platform committed to providing best-in-class property management for owners and seamless, elevated experiences for guests in top destinations across America. StayTerra is made up of a collection of premier vacation rental brands that are focused on delivering outstanding customer service, guided by professional teams acting with integrity, thoughtfulness and an unparalleled passion for hospitality. StayTerra is trusted by property owners to care for their homes and by guests to create exceptional vacation experiences. For more information, please visit stayterravaca.com.

About Garnett Station Partners
Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $3.5 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health and wellness, automotive, and food and beverage. Garnett Station’s culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit garnettstation.com.

About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, Beyond, BVP, DocuSign, Wix, Fiverr, Toast and ServiceTitan, and has $19 billion of assets under management. Bessemer has investment teams located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).

Contacts

For StayTerra:
info@stayterravaca.com

For Garnett Station Partners:
Gagnier Communications
Dan Gagnier / Lindsay Barber
GSP@gagnierfc.com

For Bessemer Venture Partners:
press@bvp.com

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