Australia-based short-term rental management platform Hometime has raised 10 million Australian dollars — nearly $6.6 million in U.S. currency — to be put toward future growth.
The company shared its funding news on LinkedIn Wednesday.
“The last five years at Hometime have seen us gain the support of some fantastic business backers including AS1 Growth Partners, NAB Ventures, Asia Principal Capital and OneVentures,” Hometime said. “We've worked hard to hire amazing people, achieve scale and mature our technology platform.”
The company expressed excitement around the recent growth round and noted a new investor, Fifth Estate Asset Management, had joined the group.
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The new funding is meant to bolster Hometime’s goal to professionalize the short-term rental industry, to grow its brand across Australia and New Zealand and to enter new markets through acquisition of the best local operators, it said on LinkedIn.
‘We're looking forward to expanding the Hometime ecosystem and providing our guests with even more beautiful places to stay,” wrote Hometime.
Hometime has already gone through successful funding in past years. In 2019, for example, it raised $6.7 million in November on top of $6 million it had raised earlier that year in May.