MyVR

Market position

MyVR competed in the vacation rental property management software and channel management category, serving mainly small and mid-sized owners and managers in a market coverage described as highly fragmented. Contemporary coverage sized the underlying opportunity at over $85 billion in annual U.S. and European vacation rental bookings (2012) and the company's own site cited a global market of as much as $100 billion. A third-party database estimated MyVR's revenue in the $2-5 million range and categorized it under SaaS, marketplaces, travel and hospitality, and real estate software.

MyVR positioned itself around ease of use for small and mid-sized vacation rental managers who, according to the founders, lacked modern software; around an open platform that integrated with third-party best-of-breed applications; and around enabling operators to build their own brand and direct booking channel rather than depending solely on OTA distribution. CEO Jonathan Murray characterized the value proposition as letting customers 'take control and build their own brand while they tap into channels for new customers,' with the core benefit being reduced hassle and time in managing multiple properties.

Technology

A cloud-based, multi-channel management platform described as a centralized dashboard with a layer of tools: distribution and synchronization of property content, availability and rates to 30+ listing sites (Airbnb, HomeAway/Vrbo, TripAdvisor, Booking.com, Expedia and others), website creation for direct bookings, automated renter communications and workflow automation, plus an open platform connecting to third-party applications and services.

Go-to-market

MyVR sold directly to vacation rental owners and property management companies, with dedicated sales development and customer success/support functions staffed at its Reno office. The company was testing local marketing in specific vacation rental markets such as Lake Tahoe as of late 2018, and used its platform marketplace of connected apps and services as an additional distribution and expansion lever.

Vacation rental and short-term rental owners and property managers, ranging from individual owners with a handful of properties to property management firms; the founders emphasized small managers and owners who wanted to add properties without adding operational burden.

Geography

Headquartered in San Francisco, California, with a second office opened in downtown Reno, Nevada, located in the Wells Fargo Building at 200 South Virginia Street. As of late 2018 the company said roughly 90 percent of its focus was on North America.

History

The concept originated in 2011 when Jonathan Murray and Mike Stachowiak, both vacation rental owners, discussed the difficulty of managing their own properties. MyVR went through Y Combinator's Winter 2012 batch, graduating in March 2012, and announced a $1.4 million seed round in late 2012 backed by Y Combinator, SV Angel and Chris Dixon. In December 2017 the company raised an additional $6.1 million Series A led by True Ventures, bringing total funding to $7.5 million. By late 2018 MyVR operated from San Francisco plus a second office in downtown Reno, Nevada, with about 25 employees. Y Combinator's company directory lists MyVR's status as acquired.

Risks & controversies

No controversies or specific risks are documented in the available sources. Note that a similarly named entity, myVR Software (myvr-software.com), is a Hexagon-owned 3D/AR/VR visualization technology provider and is unrelated to MyVR the vacation rental software company.