Fenwick Represents AvantStay in $160 Million Series B Financing

Fenwick represented AvantStay, a hospitality platform redefining the way in which people travel, transact and invest in the STR (Short-Term Rental) industry, in its $160 million Series B financing. The round was co-led by Tarsadia Investments and 3L Capital and included participation from existing investors such as Bullpen Capital and Convivialite, along with new investors such as Capital One Ventures, Saluda Grade and others.

AvantStay will use the new capital to support its continued growth, including expansion into new markets, advanced technology offerings, elevated customer experience and the national launch of its brokerage services. More information can be obtained from the company’s announcement.

The Fenwick transaction team was led by corporate partner Michael Brown and partner-elect Jordan Roberts, and included associates Eugene Karlik, Angela Park, David Rand and Sam Millang.