- GetMyBoat recently announced it raised $21 million as part of a Series B round. These are the details.
GetMyBoat — the world’s largest boat rental and water experience marketplace — recently announced that Yanmar has acquired a majority stake in the business and injected $21 million in growth capital as part of the Series B round.
The funding round will be used to expand the team and accelerate international growth plans as travel markets reopen. And GetMyBoat will continue to be run by the current executive team as a stand-alone entity.
Based in Osaka, Japan, Yanmar is a global company with over 110 years of history of delivering innovative products and solutions for customers. And 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. And 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. And 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.
KEY QUOTES:
“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. 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.”
— Shiori Nagata, Chief Strategy Officer for Yanmar
“Working closely with Yanmar during the past four years has been an incredible experience. Yanmar recognized very early the vision, and reality, 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.”
— Sascha Mornell, CEO & Co-Founder of GetMyBoat
