Vacation rental software company
Lodgify
has raised $5 million to develop its direct-booking technology.
The Series A round was led by Intermedia Vermögensverwaltung, as well as existing investors Nauta Capital, Howzat Partners and angel investors, bringing the Barcelona-based company’s total funding to $7.3 million.
Lodgify helps vacation rental owners and property managers build their own websites to attract and grow direct bookings, thus avoiding commission fees. Through the software-as-a-service platform, owners and managers can accept online bookings and payments, as well as manage reservations.
“Lodgify stands out from other software players because of our razor-sharp product focus,” says Lodgify CEO Dennis Klett. “We are not a property management system, which typically focuses on on-site administrative tasks. Instead, our software enables our users to easily build and grow their own online booking channel.”
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In addition to facilitating direct bookings, Lodgify synchs with external listings on sites like Airbnb and Booking.com through its channel manager, giving vacation rental owners and property managers tools to manage multiple listings.
The company will use the latest funding round to grow its team as well as invest in product development. The capital will also assist in advancing Lodgify’s longer-term plans to bring its technology to large hotel chains.
“Our vision is to make our direct channel technology accessible to any lodging business, no matter the size or segment,” says Marco De Gregorio, Lodgify co-founder and CTO.
“Similar to how Shopify evolved from a software for entrepreneurs to also cater to enterprise clients, in the future, Lodgify will continue to be used by small-to-medium sized vacation rental operators, and also by large enterprise-level hotel chains who want to run their entire website on our platform.”