Travel Startup RedAwning.com Secures $40 Million

RedAwning.com announced it has secured $40 million in financing. Two investors contributed to the round, among them Silversmith Capital Partners.

RedAwning is the world’s largest branded network of vacation rental properties, combining consistency and trust with 24/7 guest and property manager support services. With more than 100,000 rental properties in more than 10,000 destinations, RedAwning supplies vacation rentals to major online booking websites, including Booking.com, Expedia, HomeAway/VRBO, FlipKey/TripAdvisor, and Airbnb. RedAwning’s mission is to redefine vacation hospitality by combining the ease, trust, and consistency of hotels with the value and diversity of vacation rental properties.

In its announcement, the company said the investment will be used to extend RedAwning’s business model in existing markets in the Americas, Europe, and Asia, and to expand into new global territories.