welcomes Fidelity International in pre-IPO funding round of over AU$100M
Summary
Sydney, Australia – SiteMinder, the world’s leading open hotel commerce platform, today announces a pre-IPO funding round of over AU$100 million. Early investors in SiteMinder—including Bailador Technology Investments, Les Szekely of Equity Venture Partners, and TCV—remain supporters and shareholders of the company. SiteMinder’s revenue and business performance has been resilient amidst the significant disruption in the global travel industry during the pandemic, reflecting the important nature of its technology to hotels across the world. Narayan continues, “We have maintained high levels of engagement with customers and partners to deliver consistently strong business performance and demonstrate SiteMinder’s resilience during these difficult industry conditions. Our continued investment in expanding our product suite puts us in a strong position to benefit from the recovery in travel which we are beginning to see, particularly in the many travel markets where bookings are bouncing back to pre-pandemic levels.” “After joining SiteMinder’s capital raise of over AU$100 million in January 2020, at a time where we could not have foreseen the events ahead, what we have seen is SiteMinder show tremendous agility, resilience and innovation, particularly as the needs of their customers and partners have rapidly shifted,” comments George Batsakis, Senior Portfolio Manager from AustralianSuper.
Classifications
AskAI Classifications
LabelsLinked Companies
