Vacation Rental Network RedAwning Attracts $40 Million Round: Travel Startup Funding This Week
Photo Credit: A look at the hot tub from a one-bathroom cabin in Pigeon Forge, Tennessee, that is one of the properties provided by RedAwning via its vacation network. RedAwning
Skift Take
Among the latest travel companies to receive funding, RedAwning and WanderJaunt are applying aspects of hotel franchising to home renting. Other companies will likely pile onto these experiments.
Each week we round up travel startups that have recently received or announced funding. The total raised this week was more than $43 million.
>>RedAwning is a vendor that provides branding and technology needed by professional property managers in resort destinations that isn't being supplied by online marketplaces such as Airbnb, Booking.com, and HomeAway.
The Emeryville, California-based company has raised $40 million in a Series A round led by venture firm Silversmith Capital Partners. RedAwning plans to use the funding to double its staff and expand its business model to Europe and Asia.
In March, Skift profiled RedAwning. As we noted, just as hotels use channel manager software to distribute their rooms to online and corporate travel agencies, RedAwning offers softwa
