Filing: Hipcamp, a platform for listing and booking campsites, raises $57M Series C at a valuation of $300M+, double the valuation from its last raise in 2019
10 days after Airbnb's IPO, filings show. It values the company at more than $300M. Bond and Index are new investors. https://thein.fo/... Charlie Hanna / @charliehanna : Congratulations Alyssa and the entire team at @Hipcamp!! 2021 is the year to get outside :) https://www.theinformation.com/ ... Amir Efrati / @amir : Yet another promising startup on our #TI50 list, Hipcamp, the Airbnb for camping, is graduating from that list today after this new raise (in which its share price doubled). https://www.theinformation.com/ ... Eric Newcomer / @ericnewcomer : Looks like Hipcamp did end up raising from Bond and Index. Valuation came out lower than I'd heard. https://www.theinformation.com/ ... https://twitter.com/...
Context & Ripple Effects
Hipcamp's $25M Series B in mid-2019, led by Andreessen Horowitz, left the campsite-booking platform with $41.8M raised total. The new filing shows it has now more than doubled that round size and its valuation in one step, with growth-stage firms Bond and Index coming in as new investors.
The timing is the tell: the raise hit filings just ten days after Airbnb's IPO, and it follows Apartment List's December round, which likewise doubled that rental marketplace's valuation. Airbnb going public appears to be repricing the whole category of stay-and-rental marketplaces, giving private investors a fresh public-market template to underwrite against.
First-order effects
- Hipcamp gains $57M of new capital and two institutional backers — Bond and Index — with its share price doubling from the 2019 round, per The Information's reporters.
- The company exits The Information's TI50 watchlist as a funded scale-up rather than a tracked prospect, shifting scrutiny from potential to execution.
Second-order effects
- Airbnb's successful IPO hands every 'Airbnb for X' startup a valuation anchor: Hipcamp doubled, and Apartment List doubled weeks earlier, suggesting investors are re-rating vertical marketplaces as a class rather than on individual merit.
- Competing outdoor-stay and camping platforms now face a better-capitalized Hipcamp with fresh funds for supply acquisition — signing landowners and campsites before rivals can.
Third-order effects
- If the post-IPO repricing holds, vertical marketplaces will increasingly time their raises off public comparables' milestones, making Airbnb's quarterly performance a de facto funding signal for the private companies built in its image.
- Growth-stage entrants like Bond and Index moving into niche travel marketplaces signals late-stage capital broadening beyond the mega-rounds that defined Airbnb's own path through its $30B-valuation era.
The trend: Airbnb's public listing is resetting private-market valuations across the stay-and-rental marketplace sector, with vertical players like Hipcamp and Apartment List doubling their marks within weeks of the IPO.