Denver-based Inspirato has just secured $17.5 million in funding for its membership luxury vacation business.
Inspirato announced $17.5 million in equity funding led by Kleiner Perkins Caufield & Byers (KPCB), the preeminent venture capital firm for category building consumer companies. Founded by Brent and Brad Handler, the co-founders of Exclusive Resorts, Inspirato eliminates what is wrong with luxury vacation rentals, adds what is right about destination clubs, and creates the perfect solution for families wanting to vacation better. Other investors in the round include Access Venture Partners and New York Yankees All-Star First Baseman Mark Teixeira.
Inspirato members pay a one-time initiation fee of $15,000 and an annual membership fee of $2,500. Once you’re a member, you can travel as often as you like and can pick from a property portfolio of 85 residences in 25 destinations, for which Inpirato has entered into long-term leases with the property owners. Members receive deeply discounted nightly rates, no black-out dates and no brokers’ fees.
Thus far, the company says it has sold more than 900 memberships and says it is cash flow positive. The company plans to use the capital to add even more vacation choices for its members.
Source: All Things D