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 originally founded in 2014 by Andrew Sturner.[4] In 2015, Boatsetter and Cruzin, originally founded by Jaclyn Baumgarten[5], merged into one entity and adopted the name Boatsetter.[6][7][8]
In August 2017, Boatsetter acquired its rival boat-sharing platform, Boatbound.[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 $10million.[16] Previously, it raised $13million in Series A funding in December 2016.[6][17]
In May 2021, Boatsetter expanded its operations by acquiring Fisher Guiding, a New York-based fishing charter marketplace.[19] The acquisition expanded Boatsetter Fishing service, providing user access to fishing boat charters, guides, and outfitters, thereby increasing the accessibility of angling experiences.[19]
In August 2022, Boatsetter received $38million 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.[20]
Platform
Boatsetter is a peer-to-peer boat rental platform.[21][22][23]
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.[24] Additionally, the platform offers an optional service to pair renters with professional captains, licensed by the U.S. Coast Guard.[24][18] The rental price is determined by the boat owners, while Boatsetter accrues 20 percent of the rental fee as commission.[24] Through another service called Boatsetter Lux Charters, it provides luxury boats and yachts for rent.[20]
Boatsetter has been described as Airbnb for boats.[6][25][26] The platform can be accessed through a mobile app.[18][27]
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