We are happy to announce that we are raising $1.5 billion, as part of our Series F funding round. As a part of this round, RA Hospitality Holdings’ will infuse approximately $700 million as primary capital in the company, with the balance $800 million being supplemented by other existing investors. A significant part of the funds will be diverted towards our continued growth in the fastest-growing market in the United States, and in strengthening the company’s position in the vacation rental business in Europe.
Earlier this year, we received CCI’s approval to invest $2 billion in OYO. Prior to this, we had raised over $1 billion in our last financing round, announced on September 2018, led by SoftBank through SoftBank Vision Fund, with participation from existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital and supported by new strategic partners like Airbnb.
We have emerged as the world’s second-largest hotel, and fastest-growing chain of hotels, homes, living and workspaces, leaving behind several traditional and long-standing hospitality brands. In a short span of 6 years, we have hosted thousands of guests from all over the world, building a sustainable business ground’s up and it has passed by in no time leaving us with new learnings for years to come. We have successfully expanded our presence to 80+ countries around the world. This fast-paced growth is fueled by our company’s success in China with presence in 338 cities and over 590,000 rooms, followed by fast-paced growth in Indonesia with presence in 100+ cities and over 27,000 rooms, the UK with presence in 30 destinations and over 3,500 rooms, and more recently in the U.S., with a presence in 60 cities, 21 states and over 7500 rooms. This year, we have seen a 3.8x YoY growth in revenue in Aug 2019 (vs. Aug 2018), with 1.2 million rooms under management across hotels and homes. We have a strong balance sheet of ~ $2 bn across group companies, a significant part of which will be further invested in the business, given the company’s focus on maintaining its growth momentum. We have employed over 20,000 OYOpreneurs and have created economic opportunities for over 300,000 local hospitality enthusiasts around the world.
We are known for our innovative chic offerings that have impacted hospitality experiences positively, whereby we have attracted some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Lightspeed Venture Partners, Greenoaks Capital, Sequoia India, and Hero Enterprise. With the support of the investors, asset owners around the world and customers, OYO is today a leading player in the hospitality industry in every country where it has a presence.