LeisureLink, the leading distribution and revenue management platform for specialty lodging, closes $9 million venture financing round with current investors Clearstone Venture Partners, Mission Ventures and Wyndham Exchange & Rentals
Pasadena, CA (November 11, 2010) — LeisureLink, Inc., the leading distribution and revenue management platform for specialty lodging suppliers, has announced the successful closing of a $9.0 million venture financing round. All current investors participated in the round, including Clearstone Venture Partners, Mission Ventures, and Wyndham Exchange & Rentals, a member of the Wyndham Worldwide family of brands.
“LeisureLink is experiencing tremendous growth since introducing our new Active Revenue Management (ARM) system. Our Series C funding allows us to continue to invest in our unique technology platform and further our sales efforts in the specialty lodging market,” said Erik Hovanec, President and Chief Executive Officer of LeisureLink. “Near term, our team of software, sales, and revenue management professionals will grow to serve the $20 billion specialty lodging market.”
“Increasingly all businesses are driven by data and technology. LeisureLink’s innovative platform optimizes the value of perishable inventory and dramatically evens the playing field for small businesses in the specialty lodging market,” said Jim Armstrong, Managing Director of Clearstone Venture Partners. “Our mission is to invest in high-growth companies that develop and have a strong command of content in their industry.”
“LeisureLink provides distribution, yield management and merchandising tools that are helping introduce thousands of new consumers to the vacation ownership industry by bringing them to our affiliated resorts as rental guests,” said Rishi Nigam, Vice President, Corporate and Strategic Development, Wyndham Exchange & Rentals. “We are excited that several of our timeshare affiliates have seen the ARM product help maximize the revenue of their rental programs, and believe that it will also enhance the bookings we will be able to deliver to our ResortQuest property owners.”
“LeisureLink’s technology platform has evolved beyond distribution, and now includes enterprise-class revenue management capabilities, giving the specialty lodging market a tremendous opportunity to use an automated, data-driven system to drive revenue growth,” said Ted Alexander, Managing Partner of Mission Ventures. “The combination of broad distribution, market data from millions of consumer queries, and hosted revenue management will continue to power growth for their clients and LeisureLink.”
LeisureLink gives specialty lodging properties a decisive advantage online. Delivering a combination of powerful market analytics and reduced client overhead, LeisureLink maximizes online revenue for vacation rental properties, timeshare resorts and boutique hotels.
For more information visit http://www.LeisureLink.com and to view properties go to http://www.ABetterStay.com
About Wyndham Exchange & Rentals
Wyndham Exchange & Rentals, part of the Wyndham Worldwide family of companies, the worldwide leader in vacation exchange and the world’s largest full-service vacation rental business, providing access to more than 85,000 vacation properties in approximately 100 countries. The vacation exchange business includes RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers, and The Registry Collection® program, the world’s largest luxury exchange program. The vacation rentals business includes Hoseasons, cottages4you, Novasol®, Cuendet®, Landal GreenParks®, ResortQuest®, Endless Vacation Rentals® and other renowned vacation rental brands through which vacationers can rent a variety of property types, from city apartments to villas. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit our media center.
About Mission Ventures
Mission Ventures helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region. For more information visit http://www.missionventures.com
About Clearstone Venture Partners
Clearstone Venture Partners provides venture capital for technology innovators in California and beyond. With offices in Santa Monica and Menlo Park, Clearstone has more than $650 million of committed capital. It invests across the horizon of technology markets, including software, enterprise infrastructure, storage, communications, security, wireless, semiconductors, advanced optics and both consumer & business Internet. Clearstone has a proven history of leadership in financing and building high-growth technology start-ups, having backed segment-leading companies including PayPal (acquired by eBay), Overture (acquired by Yahoo), United Online (UNTD), PeopleSupport (PSPT), AOptix Technologies, ARIO Data Networks, Internet Brands, Meru Networks and Novariant. For more information, visit http://www.clearstone.com
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