YATCO has completed a major round of funding to accelerate its global expansion. The Fort Lauderdale-based company bills itself as the “Official MLS of Yachting.”
"The increased capitalization to YATCO will allow us to better reach the worldwide consumer marketplace as well as accelerate the introduction of our all new BOSS platform,” said Steven J. Myers, founder and CEO, in a statement. Myers said the new platform would “revolutionize” the yachts for sale and charter marketing business by integrating all software into a “single back office solution.”
In the last two years, Myers says that it has increased its development and marketing team to 17 professionals in Florida and Europe. The company also plans for further expansion of personnel in California, Annapolis, London, and the South of France by the end of 2018. “For the past 18 years YATCO and our preceding company Yachtcouncil have done an amazing job of serving the world’s leading professional luxury yacht brokers,” said Helen Ryan, director of marketing. "With this new phase of our growth we are now excited to aggressively expand our reach to both the online yachting and boating markets worldwide.”
Ryan said that the company will have an additional website for consumers as well as partnerships. “These will expand the YATCO marketplace to better reach boat owners in every marketplace,” she said.
The company currently works with more than 2,000 professional yacht brokers, with listings of over US$15bn in its online central listing marketplace for US$5bn in annual sales.