Escapia Exceeds Funding Goal; Raises $1.6 Million to Expand Vacation Rental Software Platform and Online Distribution Network
Market Wire, June, 2009
Escapia ( www.escapia.com ), the leading provider of web-based management and marketing solutions for vacation rental managers, today announced the completion of a $1.6 million round of funding. The new funding allows the company to extend its leadership in web hosted software for vacation rental managers and to capitalize on the breakneck growth in its consumer bookings business. The round, which exceeded the company's goals for the amount of new capital raised, is being led by existing investors including Steven D. Murch, Buerk Dale Victor, and Atlas Accelerator.
Escapia's web-based vacation rental software platform simplifies how professional vacation rental managers market and manage their vacation homes. Escapia streamlines reservations, accounting and property management, enables online reservations, provides fully integrated distribution reaching tens of millions of online travelers each month, delivers agencies world-class website solutions, enhances security and provides unparalleled flexibility in running vacation rental businesses. Today Escapia powers the back office and websites for hundreds of vacation rental agencies, providing them with online availability, booking and direct integration with their reservation desks. The Escapia web-hosted software platform has powered over half a billion dollars worth of vacation rental bookings.
The new funding allows the company to build on an impressive track record of growth. Over the past year Escapia has dramatically expanded its consumer business, added to its client base, and expanded its suite of services. Consumer bookings driven by the Escapia platform to vacation rental managers has increased by over 400% compared to a year ago. The number of vacation rental agencies using the leading Escapia web-hosted vacation rental software platform has increased by 25%, even in the midst of a sharp recession. And the company has released innovative technology including the first integrated yield management system available to vacation rental managers.
The company's CEO Bill Furlong said, "We're thrilled to have closed additional funding to accelerate development of our software platform and expand the breadth and sophistication of our online distribution. Our investors see the opportunity to dramatically improve the ability of vacation rental managers to serve travelers looking online for vacation homes. We're focused on expanding what is already the most advanced property management and online distribution capability available to vacation rental managers."
About Escapia
Escapia, Inc., founded in 2000, is leading the Internet revolution in the $24 billion vacation rental industry with a comprehensive Internet business platform and a breakthrough consumer booking service. Escapia empowers professional vacation rental management companies to reach new customers, manage properties and owner relationships, and perform trust-based accounting, housekeeping, maintenance and other mission critical aspects of their businesses. EscapiaONE is a comprehensive platform for vacation rental companies embracing the Internet future of the industry. EscapiaNET is the leading online distribution network for professional vacation rental managers. And ClearStay.com is the premier online vacation rental site helping consumers book lodging with vacation rental managers. Seattle-based Escapia can be reached at 1-800-ESCAPIA, info@escapia.com or via the web at www.escapia.com . Visit the Escapia blog at www.escapiablog.com
Escapia, EscapiaONE, EscapiaNET, ClearStay.com, the Escapia logo and the ClearStay.com logo are trademarks of Escapia, Inc.
All other trademarks are the property of their respective owners.
For more information: Kristine Lande Escapia, Inc. Ph. 206-832-0241 e-mail: Email Contact
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