Some companies are always on the move. That's the case for Outdoorsy, which was launched out of an Airstream and years later moved its headquarters from San Francisco to Austin.
The company, which provides a marketplace for people to rent RVs and tent-equipped camping SUVs, on Wednesday announced it has raised a $50 million Series C round of investment led by Greenspring Associates. Aviva Ventures, Altos Ventures, AutoTech Ventures and Tandem Capital were also in on the round.
That adds to a $25 million Series B announced in February 2018.
The startup, which was founded in 2015 and moved to its Austin HQ last April, says it is capitalizing in major shifts in the travel and sharing economy markets -- where many prefer authentic experiences and more people are seeing the earning potential of their under-utilized cars, homes and other belongings.
Outdoory says its research shows nearly half of people say RV and camper van travel is their preferred form of finding new experiences.
Outdoorsy has found a unique advantage in working with one of its investors, Aviva Ventures, to develop custom insurance policies for the business model. For example, it offers owners a $1 million liability policy, in addition to roadside assistance packages.
"Our business is growing fast across all geographies and across both our owner and renter base," Outdoorsy CEO Jeff Cavins said in a news release. "We've also significantly reduced our insurance and operating costs, which has contributed to our global leadership position as a peer-to-peer and professional fleet management platform."
He said the company will invest in international markets and expand its platform to add campsites and other experiences.
"Most people buy an RV that's unused nearly 97 percent of the year," Greenspring Associates General Partner John Avirett said in a news release. "We appreciate that Outdoorsy is unlocking these expensive assets for owners and making them available to the millions of travelers around the world who crave experiential travel without the burden of ownership."
When Outdoorsy first moved to Austin, it arrived with about 30 employees. But it has been growing quickly, including the addition in June of CFO Bob Bearden, who was CFO at Expedia, Hotels.com and Travelocity before joining Austin-based uShip. At the time, the company also announced several other hires with experience in Austin startups, including Modernize and Chiron Health.
