DENVER and SAN FRANCISCO, March 14, 2022 — AirDNA, a leading provider of global short-term rental (STR) data and predictive analytics software, today announced its strategic partnership with Alpine Investors (“Alpine”), a people-driven private equity firm. Terms of the private transaction were not disclosed.

AirDNA is a long-standing pioneer in third-party STR data, and its reputation for superior accuracy is recognized by its data partners and the world’s top tourism and real estate professionals. With Alpine’s backing, AirDNA will be able to enhance its data solutions, developing even more sophisticated tools across multiple industries, including hospitality and real estate, through its self-serve intelligence platform (MarketMinder) and enterprise data packages.

Denver-based technology startup AirDNA was founded by Scott Shatford in 2014 to empower hosts and investors with the market intelligence they needed to thrive. Now, their range of software and reports equip over 85,000 all-time customers across 65 countries with solutions to make data-driven decisions in this rapidly-growing industry which generated an estimated $113 billion in 2021.

“Since its humble beginnings as four people in a garage, AirDNA has stayed true to its mission of opening opportunities through short-term rental data. We are proud to provide insights to hosts and also be powerful enough for enterprise organizations,” said Shatford. “Alpine immediately recognized the power of our platform. Alpine’s expertise in building software and data businesses, paired with their values-driven model, makes them the perfect partner.”

As part of the partnership, AirDNA will welcome Demi Horvat as COO to scale the business to the next level with her wide expertise: Demi joins from Alpine’s CEO Program, an in-house talent program that recruits, develops, and places emerging leaders into its portfolio companies. Scott Shatford will continue as AirDNA’s CEO to lead the global product strategy.

“The STR industry has shaken up the broader lodging and real estate industries, and it’s exciting to be in an area where change is creating so much opportunity for growth and innovation. AirDNA has a proven track record of success,” said Horvat. “I’m delighted to be joining a company that aligns so closely with my values, and I’m excited to help expand the market-leading software they already offer.”

“Our first priority will be to listen to the AirDNA team and customers as we invest in expanding the engineering and customer-facing capabilities of this business,” said Mark Strauch, partner at Alpine. “We’re excited to welcome AirDNA into the Alpine community and help scale their impact to meet the needs of the fast-changing STR industry.”

For AirDNA, GLC Advisors served as financial advisors, and Scale LLP served as legal counsel. For Alpine, Morrison Foerster served as legal counsel.

About AirDNA

AirDNA helps hosts, property managers, and investors succeed in the short-term vacation rental market by turning rental data into actionable analytics. The Denver-based company has tracked the daily performance of 10 million vacation rentals in 120,000 global markets since 2014 to provide real-time market insights. Their range of online and exportable reports offers a solution for everyone in the industry to analyze trends, price rentals, identify new investment opportunities, and benchmark performance.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit

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