| Boatsetter | |
| Type: | Private |
| Industry: | Sharing economy |
| Founder: | Jaclyn Baumgarten |
| Hq Location City: | Fort Lauderdale, Florida |
| Hq Location Country: | U.S. |
| Areas Served: | --> |
| Key People: | Michael Farb (CEO) |
| Owners: | --> |
Boatsetter is an American online platform that provides boat rentals.[1] It is based in Fort Lauderdale, Florida.[2]
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]
Boatsetter was founded in 2012 as Cruizin by Jaclyn Baumgarten.[3] [4] In 2015, Cruzin was merged with Boatsetter.[5] [6] [7]
In August 2017, Boatsetter acquired its rival boat-sharing platform, Boatbound.[8] [9] [10] Founded in 2013, Boatbound was based in Seattle, Washington.[11] [12] It was often described as Airbnb for boats.[13] [14]
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] [15] 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.[16] Previously, it raised $13 million in Series A funding in December 2016.[5] [17]
During the COVID-19 pandemic, Boatsetter experienced a surge in demand for safe outdoor activities, a trend that maintained post-pandemic.[3] This led to a 200 percent annual rise in bookings by July, predominantly due to an uptick in multi-day reservations, with the emerging trend of staycations also contributing significantly.[3]
In May 2021, Boatsetter expanded its operations by acquiring Fisher Guiding, a New York-based fishing charter marketplace.[18] The acquisition expanded Boatsetter Fishing service, providing user access to fishing boat charters, guides, and outfitters, thereby increasing the accessibility of angling experiences.[18] 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 2014.[19]
Boatsetter is a peer-to-peer boat rental platform.[20] [21] [22]
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.[23] Additionally, the platform offers an optional service to pair renters with professional captains, licensed by the U.S. Coast Guard.[23] The rental price is determined by the boat owners, while Boatsetter accrues 20 percent of the rental fee as commission.[23] Through another service called Boatsetter Lux Charters, it provides luxury boats and yachts for rent.[19]
Boatsetter has been described as Airbnb for boats.[5] [24] [25] The platform can be accessed through a mobile app.[26] [27]