Gathern has raised US$72 million in Series B funding to enhance its growth in the alternative hospitality sector and prepare for an IPO on the Saudi Stock Exchange.

Target Information

Gathern, a pioneering entity in the alternative hospitality sector, has established itself as a dominant force in the Kingdom’s tourism industry since our initial investment in 2021. The company has successfully empowered over 33,000 local hosts to open their homes, providing authentic experiences to travelers and allowing a sustainable income stream for these hosts. With more than 72,000 rental units available nationwide, Gathern currently holds a significant 44% market share.

Over the past two years, Gathern has realized remarkable growth, with more than 5 million users from over 150 nationalities engaging with its platform, resulting in a massive 500% increase in activity. The company’s contributions to the local economy have surpassed SAR 2 billion, underlining its role as a vital player in the region’s tourism landscape.

Industry Overview

The tourism sector in Saudi Arabia is undergoing a significant transformation, aligning with the country’s Vision 2030 initiative aimed at diversifying its economy. Th