Aviva invests in a new future for RV rentals

By HUB SmartCoverage Team on February 14th, 2018

Global insurer Aviva has helped cultivate $25m in funding for Outdoorsy, a new company that is set to boost the marketplace for road trips and RV adventures.

The series B funding, led by Aviva Ventures in partnership with Altos Ventures, will be used to expand Outdoorsy’s sales and marketing efforts, as well as increase its geographical reach and create more jobs within the business.

Aviva also had a hand in a $2-million policy in third party liability for the firm back in 2017. 

The San Francisco-based travel platform hosts an expansive online inventory of bookable RVs, and has big dreams to mobilize more than 17 million idle RVs around the world.

Since it’s birth in 2015 the firm has generated nearly a hundred million dollars through the platform.

Customers booking with Outdoorsy are also able to enjoy services, including on-demand roadside assistance, automated DMV verification and commercial insurance for peer-to-peer rentals in North America.

The platform also utilises smart technology to create instant match and booking features, INSTAmatch and INSTAbook, to reduce time spent searching for their perfect RV.

"Outdoorsy's commitment to user safety, insurability and trust, along with the deep expertise in the management team, was very attractive for Aviva," said Ben Luckett, Managing Director of Aviva Ventures.

It is hoped that the site can break into the market currently dominated by home-sharing sites, offering a similar experience in a new way.

"More than 12% of American households own a recreational vehicle, yet rarely use it," said Jeff Cavins, co-founder and CEO of Outdoorsy.

With more young people seeking unique travel experiences, it seems RV growth is on the rise. A predicted 38% of RV usage in Northern America is by Millennials.

"RVs are the perfect gateway experiences for consumers, and the rising demand for campervan and RV travel was a growing trend in which we wanted to invest. Moving this market to an on-demand, online sharing economy was a logical way for us to participate in this new travel market," said Anthony Lee, Managing Director at Altos Ventures.

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