Luxury Retreats Raises $11 Million as Sharing Economy Gains Steam

Luxury Retreats has raised a Series B round.

The $11 million round was led by iNovia Capital, which previously invested $5 million into the Montreal-based company.

Founded in 1999, Luxury Retreats lists vacation mansions and apartment, typically with prices above $1,000 per night.

The Canadian company is pushing aggressively into the US market, currently tapping New York City, Miami, and LA.

Different than Airbnb, and part of its high-end branding, Luxury Rentals offers concierge services using local, on-the-ground employees to service the needs of customers staying at listings in the area. The company also certifies all properties, unlike lower-end sharing economy models.

It’s working for Luxury Retreats: the firm says it has no plans to enter the entry-level market.