Vacasa Nets $319 Million in Backing for Vacation Rental Management

Vacasa, a property management service for short-term rentals, said Tuesday it had raised $319 million in investment, led by financing from private equity firm Silver Lake. The vacation rental startup has now raised a total of $526.5 million in private equity funding — more than any other startup of its kind.

The company, based in Portland, Oregon, said the deal places a “north of $1 billion” valuation on the company, making it the rental property management sector’s first “unicorn.”