DLA Piper represented Boatsetter, the leading marketplace for on-the-water experiences and boat rentals in the U.S., in the closing of its US$38 million Series B funding round led by Level Equity, with participation by Suntex Marinas, Certares, and other investors.
More than one million boaters and boat owners have used Boatsetter’s sharing economy platform, which features more than 20,000 makes and models of boats, kayaks and yachts. Boatsetter will use the capital to expand upon its 50,000 boat listings across 700 markets around the world and enter new markets.
“This funding round will fuel Boatsetter’s rapid growth and enable it to provide innovative opportunities for consumers in a growing marketplace,” said Eric Grossman, vice chair of DLA Piper’s Private Equity Group and lead partner on the deal. “It was a pleasure to collaborate and bring together our knowledge and experience to close the round.”
In addition to Grossman (Northern Virginia), the deal team included associates Ian Boardman and Melissa Lucar (both in Los Angeles).
DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 1,800 financings totaling over US$58 billion.