RedAwning.com, Inc., an Emeryville, CA-based global branded network for vacation property rentals, secured $40m in funding.
The round was led by growth equity firm Silversmith Capital Partners.
The investment will be used to extend the company’s business model in existing markets in the Americas, Europe and Asia, and to expand into new global territories, to accelerate development of its innovative technology platform, and to more than double its staff and secure a larger office space.
Led by CEO Tim Choate and CTO Lance Nelson, RedAwning.com provides an innovative technology platform which enables property managers to manage property booking through a combination of listing optimization, marketing algorithms, dynamic analytics, and targeted distribution.
RedAwning is a supplier of vacation rentals to every major online booking website, including Booking.com, Expedia, HomeAway/VRBO, FlipKey/TripAdvisor, and Airbnb with over 100,000 unique rental properties in over 10,000 destinations.