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Investors continue to pour money into startups claiming to use technology to automate and improve vacation rental property management. TurnKey, an Austin, Texas-based startup, said Monday that it had raised $31 million in a Series D round of funding. Existing investor Adams Street Partners led the round. Altos Ventures and two new institutional investors also pitched in. The funding brings the total that Turnkey has raised to $72 million. The news comes on the heels of the February 2018 report that Wyndham agreed to sell its European division, which manages 110,000 properties, to a private equity firm for $1.3 billion. Last October, Vacasa raised a $103.5 million Series B round. Sonder, another property management company, has publicized a total of $13 million in funding. Rumors float that a larger follow-on round is in the works. Rented.com, which provides financing to the vacation rental sector, created a $125 million fund for financings in December. Read original article |
