TurnKey, a company that sells technology to support vacation rental owners, has raised $10 million, bringing its total investment, to date, to $20 million.
Prior investor Silverton Partners of Texas upped its stakes by joining this round; it has two partners as board members on the startup, too. Altos Ventures of California also participated in this round.
To date, TurnKey has raised $20 million from a variety of investors.
Founded in 2013 in Austin, Texas, the company offers tools for property owners to manage their listings on sites like VBRO as well as handle on-property management issues, such as check-in and cleaning, for an 18% fee.
TurnKey manages about 1,000 properties in two dozen US markets, such as Aspen, Austin, San Diego, and Seattle.
TurnKey has taken on traditional property management firms by charging lower rates of commission on bookings, something it says its more efficient software and business model allows it to do.
The startup is led by a team with prior experience in the travel industry. Its executive chairman John Banczak had leadership roles at HomeAway, BnB.com, and Hotwire; CEO TJ Clark was corporate counsel at Hotwire and CEO of Limos.com, and vp of engineering Doug Squires used to be the director of engineering at HomeAway.