Hospitality operator Kasa has raised $40 million to strengthen its technology and artificial intelligence systems that support hotel and lodging operations.
The San Francisco-based company manages boutique hotels and apartment-style accommodations. Its proprietary operating system is designed to simplify property management while improving efficiency for real estate partners.
"We are building a better way to operate hospitality properties: one that's lighter, smarter, and more profitable," said Roman Pedan, founder and CEO of Kasa. "This funding allows us to double down on investing in systems to drive performance for our partners."
The funding round was led by Silver Lake Waterman. The firm works with real estate owners to improve operational and financial outcomes. Kasa has also built partnerships with Starwood Capital, Berkshire, Greystar, and Prudential.
Currently, Kasa operates over 85 properties in more than 45 U.S. markets. The company reported over $100 million in annual booking revenue, more than doubling its business in the past year.
Pedan said Kasa aims to provide independent hoteliers with access to the type of technology and operational support that is usually limited to large hotel chains.
"Kasa has a deep understanding of the challenges facing independent hoteliers," said Shawn O'Neill, managing director at Silver Lake Waterman. "Every part of Kasa, from pricing to guest support, is built with their owners and guests in mind."
O’Neill added that his team looks forward to supporting Kasa as it scales its platform.
Founded in 2016 as Kasa Living, the company expanded into single-home vacation rentals in 2023. That same year, it raised $70 million in its Series C round.
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By Ravi Kumar