Gathern Secures $72M in Series B Funding, Sets Sights on Tadawul IPO

Saudi Arabia’s leading vacation rental startup and alternative hospitality platform Gathern has announced the successful closure of a $72 million Series B funding round, marking one of the largest funding deals in the Kingdom’s fast-growing proptech and travel-tech industries. The round was led by Sanabil Investments, a subsidiary of the sovereign wealth giant Public Investment Fund (PIF), with additional participation from STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst
(Sources: wamda.com, lucidityinsights.com).

Strong Valuation and Strategic Goals

The fresh capital has boosted Gathern’s valuation to an estimated $266 million, placing it among the most valuable Saudi startups in the tourism and hospitality space. (lucidityinsights.com). According to the company, the funds will serve multiple purposes. The most immediate priority is preparing for a potential initial public offering (IPO) on Tadawul, the Saudi Stock Exchange.

Beyond the IPO, Gathern aims to accelerate growth across the Kingdom and in neighboring Gulf markets, attract more international visitors, and expand its portfolio to meet the rising demand for long-term vacation rentals. The company will also enhance its technological backbone with artificial intelligence (AI) to improve booking personalization, dynamic pricing, and customer experience. (WiT)

Founding Journey and Market Leadership

Founded in 2016–2017 by female entrepreneur Latifah Altamimi, Gathern began as a modest vacation rental booking platform. Over time, it has transformed into Saudi Arabia’s largest alternative hospitality marketplace, offering a wide range of stays including villas, apartments, chalets, yachts, farms, and desert camps.

Today, Gathern lists more than 72,000 properties, which represents about 15% of Saudi Arabia’s total accommodation supply. The company currently commands a 44% national market share in the alternative hospitality sector, with an even higher 53% share in Riyadh, positioning it as the undisputed market leader (wamda.com, lucidityinsights.com).

Impact on Users and Hosts

The platform has served over 5 million users from 150+ nationalities, highlighting its growing international appeal. On the supply side, around 33,000 local hosts have collectively earned over $533 million, making Gathern a vital income source for many Saudi families and entrepreneurs.

This achievement not only strengthens the country’s tourism ecosystem but also places Gathern among the highest-valued women-led startups in the Middle East, underscoring the role of female founders in Saudi Arabia’s startup ecosystem
(wamda.com).

Expansion Strategy and Tech Investments

The Series B funds will be used to drive several strategic initiatives:

• Tadawul IPO Preparations: Strengthening governance and meeting regulatory standards ahead of its public listing.

• Saudi and Regional Expansion: Growing its presence in Saudi Arabia while exploring opportunities across the GCC and wider MENA region.

• AI-Powered Enhancements: Deploying artificial intelligence to improve property recommendations, optimize search results, and streamline host management.

• Long-Term Stay Solutions: Expanding into monthly and yearly rentals to attract expatriates, business travelers, and families seeking extended stays
  (wamda.com, WiT).

Role in Saudi Vision 2030

Gathern’s rise is closely tied to Saudi Vision 2030, the Kingdom’s blueprint for economic diversification. As Saudi Arabia works to attract 100 million tourists annually by 2030, platforms like Gathern are key to delivering the variety and quality of accommodation needed.

By providing authentic vacation rental experiences—from luxury villas to cultural farm stays Gathern is helping modernize Saudi Arabia’s tourism infrastructure while supporting sustainable economic diversification. Alternative hospitality has become a vital pillar of the country’s efforts to position itself as a leading global tourism destination
(WiT).

Future Outlook

Industry analysts view Gathern’s $72 million Series B funding as both a financial boost and a strategic turning point. With IPO ambitions, strong market leadership, and cutting-edge AI integration, the platform is well-positioned to shape the future of vacation rentals in Saudi Arabia.

If its planned Tadawul IPO proves successful, Gathern could pave the way for more Saudi startups particularly in proptech, travel-tech, and the wider Middle East startup ecosystem to follow suit and tap public markets. For now, Gathern’s trajectory reflects both the strength of Saudi entrepreneurship and the rapid evolution of the region’s hospitality industry.