Boatsetter's online platform comprises over 50,000 boat listings.[3] It connects boat owners, renters, and captains across 700 distinct locations, spanning the Caribbean, Europe, Mexico, and the United States.[3]
History
Boatsetter was founded in 2014 by Andrew Sturner,[4] co-founder of Miami Angels,[5] who received a pitch for seed funding from Marc Billings. Boatsetter was officially launched on stage at eMerge Americas in May 2015, highlighting its innovative approach to connecting boat owners and renters. The launch was part of a showcase of cutting-edge technology and entrepreneurship in the marine industry.[6]
A few months later, in September 2015, Boatsetter acquired Cruzin, a peer-to-peer boat-sharing company founded by Jaclyn Baumgarten in 2012. This strategic merger combined Cruzin's premier online marketplace for boat rentals with Boatsetter's innovative approach to captained recreational boat rentals. Following the merger, Jaclyn Baumgarten assumed the role of CEO, and Andrew Sturner became the Executive Chairman. [7]
In August 2017, Boatsetter acquired its rival boat-sharing platform, Boatbound.[11][12][13] Founded in 2013, Boatbound was based in Seattle, Washington.[14][15] It was often described as Airbnb for boats.[16][17]
In November 2017, Boatsetter relocated from Aventura, merging its Delray Beach and Seattle teams into a new 3,200-square foot headquarters situated in downtown Fort Lauderdale.[2][18] The relocation allowed the company to participate in the Fort Lauderdale International Boat Show, providing a platform to exhibit its services to almost 3,000 charter operators attending the event via an open house.[2]
In August 2019, Boatsetter received a Series A investment of $10 million.[19] Previously, it raised $13 million in Series A funding in December 2016.[8][20]
In May 2021, Boatsetter expanded its operations by acquiring Fisher Guiding, a New York-based fishing charter marketplace.[22] The acquisition expanded Boatsetter Fishing service, providing user access to fishing boat charters, guides, and outfitters, thereby increasing the accessibility of angling experiences.[22]
In August 2022, Boatsetter received $38 million in a series B funding.[3]
In January 2023, Michael Farb became the chief executive officer (CEO) of the company, succeeding Jaclyn Baumgarten who was the CEO since September 2015.[23]
Platform
Boatsetter is a peer-to-peer boat rental platform.[24][25][26]
Before onboarding, Boatsetter implements a pre-screening test for all potential renters to assure adherence to insurance, safety guidelines, and specific boat-owner criteria.[2] The platform allows qualifying individuals the option to rent boats without the necessity of a licensed captain.[2]
It is customary for boat owners associated with Boatsetter to provide rental services for their vessels on a half-day, full-day, or longer customized charter periods.[2] The platform facilitates boat rentals, particularly vessels measuring between 28 and 60 feet, irrespective of user boating proficiency.[27] Additionally, the platform offers an optional service to pair renters with professional captains, licensed by the U.S. Coast Guard.[27][21] The rental price is determined by the boat owners, while Boatsetter accrues 20 percent of the rental fee as commission.[27] Through another service called Boatsetter Lux Charters, it provides luxury boats and yachts for rent.[23]
Boatsetter has been described as Airbnb for boats.[8][28][29] The platform can be accessed through a mobile app.[21][30]
