SiteMinder surpasses billion-dollar mark
SiteMinder, the global market leader in hotel guest acquisition software, has completed a capital raise from international and Australian investors.
The software provider, which has offices in London, Galway, Sydney, Bangkok, Dallas and Manila, achieved a valuation of AUS$1.1 billion following the completion of the process.
It was led by BlackRock-managed equity funds, with other investment coming from AustralianSuper, the Ellerston JAADE Private Assets Fund, and Pendal Group.
Sankar Naryan, SiteMinder CEO, said: “As the global landscape for hotel technology becomes increasingly fragmented, and remains largely unpenetrated with connected technology, we couldn’t be more thrilled with the quality of new partners we have gained to further cement our position as the global market leader, now and into the future.
"This investment is a strong endorsement of our growth ambitions to continue building the world’s largest and most open guest acquisition platform for hotels,”