Tripling down on Gathern: Backing Saudi’s Hospitality Leader on Its Path to IPO

We are proud to participate in Gathern’s US$72 million Series B round. This milestone not only strengthens Gathern’s market leadership but also marks an important step toward its planned listing on the Saudi Stock Exchange (Tadawul).

When we first invested in Gathern back in 2021, we believed in the thesis that empowering local hosts to open their homes and share authentic experiences with travelers could allow Gathern to build an entirely new category in the Kingdom’s tourism sector.

Since then, the company has grown into the clear leader in alternative hospitality, with 72k+ units across the country and a 44% national market share. Along the way, it has enabled 33k+ local hosts to earn sustainable income, contributed SAR2b+ to the local economy and welcomed 5m+ users from 150+ nationalities, resulting in 500%+ growth over the past 2 years alone.

To take the company to the next level, we are proud to continue backing Gathern by participating in its US$72m Series B round. This funding will fuel its next phase of growth: expanding locally and regionally, attracting more inbound and long-term travelers, and investing in technology to enhance the experience for guests and hosts alike.

With this round, Gathern has also begun preparations for its listing on the Saudi Stock Exchange (Tadawul). The company’s expansion into new products and geographies adds further momentum to its growth story, positioning it as a stronger, more diversified platform ahead of IPO, establishing Gathern as one of the Kingdom’s most prominent tech champions on the public stage.

At STV, we believe the most iconic companies are those that deliver both commercial success and contribute to the Kingdom’s Vision 2030. Gathern embodies this, and we’re excited to stand alongside the team as they scale their vision and prepare for their next chapter as a public company.