DENVER—The luxury vacation company Inspirato says it has raised $17.5 million in equity funding from investors including New York Yankees first baseman Mark Teixeira.
Co-founder and CEO Brent Handler says Kleiner Perkins Caufield & Byers contributed most of the funding, but Access Venture Partners and Teixeira also contributed.
Inspirato is like a destination club where members pay a one-time $15,000 initiation fee and $2,500 annual membership renewal fee to have access to its properties. But Handler says the Denver-based company’s business model of leasing, not buying, the properties it offers has helped it keep customers’ prices relatively low and draw investors.
He says Inspirato will use the $17.5 million to double the destinations it offers to 50 by the middle of next year, acquire new members, and invest in technology.
