*NEWS: Startup That Developed Vacation Rental Software Raises $12 Million in Series C Round
A startup that developed vacation rental software has has raised $12 million in funding, according to a February 28 press release.
BookingPal’s round was led by Valor Capital Group, with participation from Altabix, the corporate VC fund of Hoteles City Express, as well as a new, undisclosed strategic investor.
The round included continued participation of existing investors including Amadeus Ventures, PAR Capital Management, Plug and Play Ventures, and Thayer Ventures.
As part of the investment, Antoine Colaco, General Partner from Valor Capital Group, has joined the company’s board.
BookingPal, with HQ in Irvine, will use the investment to expand into new geographic markets, according to the release.
The funds will also be used to augment the capabilities of the company’s software platform to offer additional functionalities and services that clients have been asking for, as well as to expand its sales operation, founder and CEO Alex Aydin told OC Startups Now.
BookingPal’s platform provides real-time connectivity between property management software systems and consumer travel websites, like Airbnb, Booking.com, Expedia, Google, HomeAway/VRBO, and TripAdvisor.
Valor is an investment firm focused on early-stage Brazilian tech-driven businesses, with select cross-border investments in global tech companies, supporting their expansion in Brazil.
Aydin is not Brazilian. He told OC Startups Now that Valor sees “a huge opportunity for us to offer our solution in that market and will provide us with assistance to grow our business out there.”
Since 2011, the firm has supported its founders from an early stage through the company’s life cycle.
Valor is strategically located with partners in NYC, Silicon Valley, Sao Paulo and Rio de Janeiro.