SiteMinder , a Sydney, Australia – based hotel guest acquisition software provider, completed a capital raise which valued the company at approximately AU$1.1 billion.
The round was led by equity funds managed by BlackRock, with participation from AustralianSuper; Ellerston, through the Ellerston JAADE Private Assets Fund; and Pendal Group.
The company will use the funds to accelerate growth and innovation, through accelerated go-to-market strategies and increased investments in research and development, expand internationally and continue the growth of its more than 900 staff, who are located in six offices spanning Sydney, Bangkok, Dallas, Galway, London and Manila.
Led by CEO Sankar Narayan, and Chairman Mike Ford, SiteMinder provides a hotel industry’s guest acquisition platform used by more than 35,000 hotels, across 160 countries.
The company also surpassed AU$100 million in annual recurring revenue—80 per cent of which is generated from international markets, through both monthly subscriptions and newer transactional revenue streams. The technology is today available in eight languages and supported with customer service in a further three.