Lodgify builds warchest with $5 million Series A round
By cameron in Uncategorized
Vacation rental software specialist Lodgify has secured $5 million in its largest round of fundraising, which will be used to speed up expansion plans.
The injection of $5 million means Lodgify has now raised a total of $7.3 million in funding.
It launched in 2013 – see its T Labs/tnooz startup pitch here.
Lodgify specialises in creating websites for vacation homeowners and managers so they can rent properties directly to consumers, without having to pay commission to third parties, including the ability to accept online bookings and process credit card payments.
The software-as-a-service provider has also developed API links with major travel booking sites including Airbnb and booking.com.
In a statement, Dennis Klett, CEO, said: “We are not a property management system which typically focuses on on-site administrative tasks. Instead, our software enables our users to easily build and grow their own online booking channel.”
Lodgify said it will use the new investment to expand its product department, as well as launching a mobile app and developing more API connections with third-party booking channels “at an even quicker pace”.
Marco De Gregorio, co-founder and CTO, added: “Our vision is to make our direct channel technology accessible to any lodging business, no matter the size or segment.
“We will continue to be used by small-to-medium sized vacation rental operators, and also by large enterprise-level hotel chains who want to run their entire website on our platform.”
As part of the deal, Stephan Marzen from Intermedia Vermögensverwaltung will join Lodgify’s board.
Related reading from tnooz:
Lodgify, the vacation rental platform, raises Euro 600,000 (May 2015)
Vacation rental tech startup Lodgify lands $1.6 million (April 2016)