SiteMinder, a hotel guest acquisition software provider based in Sydney, Australia, has successfully raised capital, resulting in a company valuation of approximately AU$1.1 billion.
The funding round was led by BlackRock’s equity funds, along with the participation of AustralianSuper, Ellerston (through the Ellerston JAADE Private Assets Fund), and Pendal Group.
The newly acquired funds will be utilized by the company to expedite growth and drive innovation. This will involve implementing accelerated go-to-market strategies, making increased investments in research and development, expanding its presence in international markets, and further expanding its workforce. Currently, SiteMinder employs over 900 staff members across six offices located in Sydney, Bangkok, Dallas, Galway, London, and Manila.
Under the leadership of CEO Sankar Narayan and Chairman Mike Ford, SiteMinder offers a guest acquisition platform widely used by the hotel industry. With its presence in 160 countries, the platform serves more than 35,000 hotels.
In addition to the successful capital raise, SiteMinder has achieved an annual recurring revenue exceeding AU$100 million. Notably, 80 percent of this revenue is generated from international markets, utilizing both monthly subscriptions and newer transactional revenue streams. The company’s technology is available in eight languages, and customer service is provided in three additional languages.
