Hosting management service Airsorted, has secured Series A funding of £5 million to support expansion plans.
The Colchester-based company, which helps hosts manage their properties on sites like Airbnb, HomeAway and Booking.com previously raised £1.5 million in seed funding.
Airsorted hosts have already pledged to invest almost £1 million, and the company has launched the pre-registration for its first crowdfunding campaign through Seedrs.
The firm said it is hoping to raise an additional £1 million in funding beyond the Series A.
The latest investment will be used to support the company’s global expansion and develop technology including smart scheduling, auto-communication with guests and API integrated channel management.
The £5 million Series A investment comes from investors including Pi Labs, and Atami Capital.
Airsorted Founder and chief executive, James Jenkins-Yates, said: “Home-sharing is a booming industry and one of the key elements in the ever-growing sharing economy.
“Last year, on New Year’s Eve alone, Airbnb reported that three million people had used the service and in 2016, 80 million bookings had been made with a projection of 100 million being hit in 2017.
“With our Series A funding and newly launched crowdfunding campaign, we want to expand our offering further to not only provide hosts with peace of mind when offering their homes to travellers, but also to guests by ensuring they have the most seamless stay possible.
“One of the ways we do this is by providing guests 24-hour check-in, which cuts out one the of the many pain points associated with home sharing.”
Charles Madon, of Atami Capital, added: “The growth of Airsorted is definitely one to be envied by its competitors; it’s captured a once untapped market to become the global leader.
“With the united team they have in place, and their ambitions for the rest of this year, if you’re not currently keeping an eye on how this brand develops, you’ll surely be missing out.”
Having recently launched in Paris, the firm now covers 10 cites also including London, Edinburgh, Dublin, Brighton, Bristol, Sydney, Melbourne, Brisbane and Auckland.
The company aims to have added 38 new cities around the world by the end of 2019.