Saturday, June 15, 2024

AIRSORTED RAISES FRESH £2.1 MILLION THROUGH CROWDFUNDING TO ACCELERATE GLOBAL EXPANSION

Airsorted, the world’s largest hosting management service, today announces that is has secured an additional £2.1 million in funding, thanks to a highly successful crowdfunding campaign on Seedrs.

Raising a total of £2,149,197, Airsorted hit its original £1,000,000 crowdfunding target within just 4 days of launching. Overall the campaign attracted over 1,271 investors from 31 countries.

The funds will primarily be used to accelerate Airsorted’s global expansion plans. It currently operates in 14 cities around the world, and with this latest round of funding will expanded into 38 new cities globally, by the end of 2019. During the course of the campaign alone, Airsorted launched in another 5 cities; Oxford, Manchester, Bath, Cambridge and it’s first employee touched down in Toronto.

In addition to this, the funding will enable the company to develop innovative technology that will allow automated processes including smart scheduling, automatic communication with guests and its API integrated channel management.

With this additional funding, Airsorted’s Series A exceeds £7 million. Earlier in March, the London-based tech startup raised £5 million from investors including Atami Capital, Concentric, Maxfield Capital and Pi Labs.

Airsorted is a hassle-free hosting platform that services guest bookings from popular travel websites including Airbnb, Expedia, Booking.com and HomeAway. It provides a 360-degree service that looks after the management of host properties to make the experience seamless for both hosts and their guests. Services include listing creation with professional photography, maintenance and laundry, and restocking of household items and 24/7 guest support.

The company was founded in 2015 by James Jenkins-Yates, who previously worked in finance at Deutsche Bank and UBS, and has already managed over £25 million in bookings globally on Airsorted. The business currently employs over 100 employees around the world.

Airsorted Founder and CEO, James Jenkins-Yates said: “Raising an additional £2 million through crowdfunding alongside our £5 million Series A, will really help us realise our ambitions. With Airbnb offering more than four million listings in over 190 countries, Airsorted can tap into a huge potential market and can create a hassle-free hosting experience globally. The level of support shown by this campaign highlights the belief investors have in our platform and also in our vision for the future.”

Ilya Belyaev from Concentric, said: “We remain impressed with Airsorted’s ability to extend their geographic reach, multi-platform strategy reach and its capital efficient business model. James, Daniel and the team have remained laser-focused on execution and they are getting repaid for this as they keep scaling the business.”

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