SiteMinder, the online hotel distribution company, is set to expand its global presence with a $5 million investment from Bailador Investment Management. Founded in Sydney in 2006, SiteMinder’s cloud-based products are already utilized by over 6,000 hotels across 90 countries.
The company’s offerings empower accommodation providers to boost their online revenue, streamline business operations, and reduce customer acquisition costs. With SiteMinder’s distribution platform and commission-free booking engine software, hotels generate an impressive annual reservation revenue of more than $2 billion.
Mike Ford, the managing director of SiteMinder, highlighted the growing demand for efficient distribution tools that seamlessly connect hotel inventories with online channels. Ford emphasized that SiteMinder is leading the way in developing cloud-based technology with zero transaction fees, enabling hotels to enhance revenue and operational efficiency.
Recognized as one of Australia’s fastest-growing technology companies, SiteMinder’s success has been fueled by significant capital investments made over the past six years. Ford expressed satisfaction with the company’s strong market share in the Asia-Pacific region and its substantial traction in key international markets.
Bailador Investment Management, founded in 2010 by David Kirk and Paul Wilson, specializes in providing expansion capital and dedicated board-level support to tech entrepreneurs. With this investment, SiteMinder aims to strengthen its presence in Europe, supported by the success of its London office established in 2010. The additional capital will expedite the development of innovative product features, enhance sales and support capabilities in both existing and new markets, and drive the adoption of the SiteMinder platform.
The funds will primarily be allocated to accelerate growth in Europe, Asia, and the Americas, focusing on the introduction of new products and marketing initiatives to expand SiteMinder’s client base. As part of the investment, Bailador’s co-founders, Kirk and Wilson, will join the SiteMinder board. They expressed confidence in SiteMinder’s leading technology solution, evident from its expanding client base and impressive customer retention rates. Bailador is committed to supporting innovative web-related companies with exceptional growth prospects, and they anticipate a strong partnership with SiteMinder as it establishes a dominant position in the evolving market.
