Hometime raises again, acquires local property management companies

Hometime, a property management specialist for Airbnb hosts, has raised $6.7 million in funding.

The investment for the Australia-based company comes on top of $6 million equity and venture debt funding raised in May.

NAB Ventures and AS1 Growth Partners, which both participated in the round, say they were attracted to the company for its "scalable business model in a high growth sector."

Alongside the funding, Hometime has acquired Host My Home and bnb Pal, both based in Australia.

William Crock, co-founder and COO of Hometime, says the company will use the funds to speed up further growth through acquisition and market expansion.

He adds that international expansion into the APAC region as well as the United States are "immediate priorities."

"The global short stay property rental market will approach US$115 billion in 2019 compared to approximately US$40 billion in 2010, representing an annualized growth of 13%. As the largest and fastest growing operator in Australia, we plan to capitalize on these tailwinds and drive further growth over the coming years as the market matures and consolidates."

Last year Hometime acquired Sydney-based short-term rental company Hey Tom for an undisclosed sum.