Outdoorsy Lands No. 4 Spot on Fast Company’s List of World’s Most Innovative Companies for 2023
The leading global marketplace in outdoor travel joins the ranks of global companies such as OpenAI, Airbnb, and Canva making an outsized impact on the world.
AUSTIN, TEXAS (March 2, 2023) — Outdoorsy has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023, landing the No. 4 spot in the Travel and Hospitality sector. Outdoorsy shares the company of other innovators all pioneering ways to anticipate traveler’s needs and empower guests with the independence and inspiration to travel on their terms.
Fast Company’s World’s Most Innovative Companies list has been the definitive source for recognizing the organizations that are transforming markets and shaping economies.
“We are truly honored to take our place among the world’s greatest innovators on Fast Company’s list,” said Outdoorsy’s CEO Jeff Cavins, who was recently named one of Goldman Sachs’ Most Exceptional Entrepreneurs of 2022. “Receiving this recognition, especially after these turbulent past few years — shifting macro events and soaring consumer demand for outdoor travel — highlights the resilience of our products, teams, and ability to innovate during both hard and good times.”
Since its launch in 2015, Outdoorsy has introduced millions of guests to the freedom of outdoor travel through its innovative marketplace for recreational vehicle rentals. Describing the impact, Cavins said: “Outdoorsy has driven fast growth and millions of booked nights while also exceeding $2B in transactions. This is income that went straight into the hands of American households and supported our hosts and power sellers.”
One of the distinguishing innovations that made Outdoorsy a standout candidate for the Most Innovative Companies list was its pioneering of digital insurance products through its Roamly platform explicitly designed for travel markets.
Roamly, currently growing faster than 240% YoY, eliminates the commercial exclusion clause that prohibits online renting activity. With more consumers wanting to spend time outside, and the need for safety at an all-time high, Roamly is differentiating itself from legacy insurance companies by opening up new revenue streams for RV hosts wanting to participate in peer-to-peer marketplaces like Outdoorsy.
Roamly underpins the Outdoorsy marketplace and enables other online markets through its proprietary digital insurance offerings. The insurtech is pacing to exceed $330M in premium by the end of 2024.
In the year ahead, Outdoorsy will continue transforming the outdoor hospitality space by bringing more outdoor accommodations online and offering an end-to-end travel experience that fulfills the guest journey.
“Today’s consumer has a strong desire to stay outdoors with options that expand beyond the RV and we’re incredibly excited to continue serving their needs by expanding Outdoorsy’s product offerings and building a truly outdoor-focused ecosystem,” Cavins said.
The World’s Most Innovative Companies list is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.
“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.
Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here and on newsstands beginning March 14. To learn more about Outdoorsy’s mission and to stay up to date on the company’s new developments and innovations, visit Outdoorsy.com.
Outdoorsy transformed access to the outdoors with the launch of its RV rental marketplace in 2015. Today, Outdoorsy’s partnership with its hosts has resulted in over 5 million days of booked travel through RV rentals that are available in 4,800 cities throughout the U.S. and Canada. Outdoorsy’s hospitality ecosystem provides life-changing financial benefits for RV owners and offers guests the trust and guidance they crave to create memorable travel experiences. Outdoorsy’s team is inspired by a mission to restore our relationship with the outdoors and each other by inviting guests to Live Outdoorsy.
To date, Outdoorsy has raised a total of $227M, with the latest $120M financing round announced in June 2021. The company’s investors include Moore Strategic Ventures, Altos Ventures, Monashee Capital, SiriusPoint Ltd, Autotech Ventures, Convivialité Ventures, the corporate venture group of Aviva, iAngels, and StepStone Group.
Roamly is the first full-stack insurtech for travel enthusiasts with an embedded solution that offers modern-day RV insurance and warranty products to make owners’ vehicles ‘rent ready.’ Roamly provides a suite of unique digital insurance products that eliminate the commercial use exclusion clause that prohibits online renting activity. Roamly enables marketplaces to embed and offer a broad array of insurance products – such as rental insurance, trip and travel insurance, travel medical, tire and wheel protection, extended service plans, and roadside assistance products – directly to customers through simple booking flows. Additionally, the insurtech provides personal and professional insurance products to peer-to-peer and marketplace businesses. For more information, visit www.roamly.com.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
April Cumming, [email protected]