Since 2019 and despite the global pandemic, GetMyBoat has exceeded 10X net revenue growth.
GetMyBoat, the world’s largest boat rental and water experience marketplace, announced today that Japan-based Yanmar has acquired a majority stake in the company after investing $21 million as part of its Series B funding round. GetMyBoat allows you to rent out your watercraft by the hour and advertise their water sports lessons.
The San Francisco-based tech startup said it will use the fresh capital to expand its team and accelerate international growth plans as travel markets reopen. GetMyBoat also said it will continue to be run by the current executive team as a stand-alone entity.
Since its inception about a decade ago, GetMyBoat is changing the way the world goes boating, snorkeling, kayaking, and more. As the world’s largest boat rental and charter marketplace with over 150,000 boats in 184 countries covering 9,300 destinations, the company provides an experience for every type of traveler and every kind of budget.
Founded in 2013 by Raf Collado and Sascha Mornell, GetMyBoat empowers boat owners by enabling them to earn income and offset the cost of boat ownership. From Miami to Malta, users can search, find and book their next on-the-water adventure. GetMyBoat’s app is available online and on mobile apps for Apple iOS and Google Android.
“GetMyBoat is the world’s leading marketplace for boat rentals and water experiences, and shares Yanmar’s desire to deliver rich and fulfilling experiences to its customers,” said Shiori Nagata, Chief Strategy Officer for Yanmar. “Yanmar is continuing its commitment to using advanced technology to transform into a consumer-focused brand via this acquisition. Together, we’re not only shaping the next generation of marine recreation but also reaching future generations of consumers globally.”
Headquartered in Osaka, Japan, Yanmar is a global company with more than 110 years of history of delivering innovative products and solutions for customers. A globally trusted brand in the marine industry, Yanmar has been working with GetMyBoat since its initial investment in March 2018. Since 2019 and despite the global pandemic, GetMyBoat has exceeded 10X net revenue growth and grown to offer over 150,000 boats and water experiences across 9,300 destinations.
Supported by Yanmar’s initial investment, GetMyBoat has become the driving force in shaping the world of on-demand boating. Yanmar continues to see GetMyBoat as the key player in the growth of the recreational boating industry, with the company on track to send 2 million people boating before the end of 2022.
Yanmar expects the GetMyBoat acquisition and growth capital to help drive its digital transformation across its diverse business domains while offering the opportunity to identify and monitor developing trends in the recreational marine industry. Yanmar has noted they have no intention to change GetMyBoat but rather assist in the company’s global ambitions as the established and dominant player in the industry.
“Working closely with Yanmar during the past four years has been an incredible experience. Yanmar recognized very early the vision, and reality, of GetMyBoat,” said Sascha Mornell, CEO & Co-Founder of GetMyBoat. “We mutually share a passion to democratize boating globally. Having Yanmar’s support, partnership, and growth capital will give us the opportunity to truly realize this dream. The future ahead for GetMyBoat and Yanmar working together is very bright.”
Credit: techstartups