Beyond Pricing Raises USD 42.5 Million in Series A Funding

The company's automated data-driven software, claimed to be the first of its kind in the industry, is targeted towards individual property owners, managers, and developers, whom the company regards as an underserved group.

FREMONT, CA: Property tech startup Beyond Pricing raised USD 42.5 million in a Series A funding led by Bessemer Venture Partners. The company is known for its dynamic pricing software for short term rental industry. The software charges a one percent booking fee and is oriented towards finding the equilibrium between supply and demand.

The company's automated data-driven software, claimed to be the first of its kind in the industry, is targeted towards individual property owners, managers, and developers, whom the company regards as an underserved group. Beyond Pricing's software helps this group of people in fighting off competition in the form of VC backed vacation rental platforms and hospitality conglomerates that are entering the market space quickly.

The company was founded in 2015 to give independents the ability to competitively price their properties, regardless of the platform they list on, and ensure up to forty percent increase in revenue. "Any property that serves as a home base for a short-term stay, in the same fashion as a hotel might, is a property we can serve. Any property that serves as a home base for a short-term stay, in the same fashion as a hotel might, is a property we can serve," said CEO Ian McHenry.

Previously, Beyond Pricing raised a total of USD 3.5 million in seed and post-seed funding, held in 2015 and 2016. The company's revenue has increased by 2.5 times since 2018, and it has also seen an increase in employees from 25 to sixty over the last year. The company's software integrates with websites like Airbnb and VBRO, as well as systems like HomeAway Software and Streamline, to allow property owners and managers the ability to access big data machine learning algorithms to adjust and update their prices everywhere they list automatically.

Beyond Pricing currently prices over 150,000 listings in over 7,000 cities globally, and has priced more than USD 2 billion in bookings. "We have spent so much time proving our model with our existing customers that we’re keenly aware of what their unique pain points are. In addition, the short term rental and vacation rental market in Europe is twice that of the US, so while we plan to continue to expand in the US we see a huge opportunity to continue to grow in Europe," said McHenry.

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