Outdoorsy, a global online RV rental and outdoor travel marketplace, announced it has raised $120 million in equity and debt financing.
This total includes $90 million private placement equity round led by Moore Strategic Ventures, ADAR1 Partners, Monashee Capital, SiriusPoint Ltd, and Convivialite Ventures, the corporate venture group of Pernod Ricard, with participation from existing investors Altos Ventures, iAngels, and Greenspring Associates. Pacific Western Bank provided the $30 million debt facility.
With the reopening of the U.S. economy, the additional capital will help fuel the company as it scales its operations and the international markets the company serves. Outdoorsy also plans to use the funding to drive its growth and expansion of Roamly, the company’s innovative insurtech business.
Roamly provides innovative digital insurance products for travelers and recreational vehicle owners, eliminating the commercial exclusion clause that traditionally inhibits online listing activity. Roamly insures RVs and campers as ‘rent ready,’ fostering a new era of economic opportunity for owners of recreational vehicles.
Roamly’s insurance products launched in private beta last year and will be marketed to Outdoorsy’s customers and new and existing purchasers of recreational vehicles in North America.
Owners in the Outdoorsy marketplace use Roamly to insure their assets for use on Outdoorsy and are building out fleets to keep up with expanding renter demand, leveraging Roamly as the key component of their business development strategies.
Global re-insurer SiriusPoint will be partnering with Outdoorsy on the launch of the new insurtech division.
