Boatsetter operates a marketplace that connects renters with private boat owners and licensed captains to book a wide array of on-water experiences. The platform lists more than 50,000 boats across 700 locations worldwide and has served over one million boaters and boat owners since launching commercially in 2014. Boatsetter maintains the largest database of USCG-certified captains and pioneered the first peer-to-peer boat rental insurance policy with exclusive coverage from GEICO & BoatUS. Renters can book via the Boatsetter app or website in under five minutes, and the company doubled year-over-year bookings in 2021. Future plans include enriching product features, expanding boat inventory and experiential offerings, and entering new markets globally, supported by the recent Series B funding. Boatsetter operates a peer-to-peer boat rental marketplace connecting boat owners with renters and offering qualified captains for larger vessels. The platform covers rentals for groups from two to more than a dozen passengers and lists boats in vacation hotspots worldwide. Boatsetter recently announced a strategic partnership with Geico to provide insurance for renters, owners and captains. The company raised a $10M Series A extension led by WestCap Group and Valor Equity and has now raised $31M to date, including earlier portions of its Series A. Boatsetter estimates the peer-to-peer boat rental market could be as large as $50 billion annually. It plans to use the funding to expand its product, hire design and engineering talent, build its brand and grow into key global markets. As part of its growth, it added Laurence Tosi (former CFO of Blackstone and Airbnb) to its board. Boatsetter operates a three-party marketplace connecting private boat owners, professional charter companies, captains and renters, allowing users to rent boats with a captain or hire a separate captain. The company is based out of Florida and provides insurance (reported $1M liability and $2M boat damage coverage plus umbrella coverage) via a prior merger with Cruzin. Boatsetter says it has boats in more than 300 U.S. locations and 5,000 vetted boats available, and it is projecting 5x growth to more than 10,000 rentals. The platform takes roughly 28% of the owner’s rental fee, 10% of the captain’s fee and adds a 7.5% booking fee to renters. Boatsetter has partnered with Airbnb Experiences to offer lessons and paid activities, and it emphasizes insurance and safety as differentiators. Management is pursuing a roll-up M&A strategy to consolidate regional competitors and expand internationally; the company is explicitly using new funds for M&A, growth and international expansion. Boatsetter is a Miami, Florida–based peer-to-peer boating marketplace led by co-founder and CEO Jaclyn Baumgarten. The platform connects boat owners and licensed captains to renters and offers access to a worldwide fleet. Boatsetter provides 24/7 customer service support and offers insurance coverage in the U.S. and internationally for renters, boat owners, and captains. The company expected in 2017 to host 10,000 rental boats, activate 200 marinas and connect 2,000 captains nearly anywhere in the world. Boatsetter plans to use new funding to expand its sales and marketing efforts and to broaden and accelerate its operations in the United States.

Total raised

$66M

Funding rounds

4

Latest round

Series B

Latest activity

Aug 2022