BookingPal has announced completion of a $5 million Series B financing.
The cloud based travel technology service increases exposure of professionally managed holiday rentals, by connecting them to OTAs, property listing and holiday rental portals.
The investment will be used to support demand for the company’s services, accelerate platform development, and expand the team.
The financing was led by Thayer Ventures and includes participation from new investors PAR Capital Ventures and Amadeus Ventures, as well as early investors Camp One Ventures and Plug and Play Ventures.
Alex Aydin, chief executive of BookingPal, said: “This new capital will enable us to continue to innovate on the platform, expand our strategic partnerships, and fulfil our mission to help travellers find the perfect vacation rental for their next trip on their favourite website.
“We are thrilled to have such world-class investors with deep domain expertise joining forces with us.”
Jeff Jackson, managing director of Thayer Ventures, said: “BookingPal’s technology solution is well-timed with the rapidly increasing demand for vacation rental properties from multiple audiences, including consumers, travel agencies, corporate travel managers, and more.
“BookingPal is an enabling solution for the industry and we are excited to collaborate with and support them as they work to scale the company in this exciting category.”