Vacatia lands $7 million funding amid reshuffle of management team
Another funding round for vacation rental marketplace Vacatia as it picks up $7 million from Javelin Venture Partners.
The latest injection comes just 18 months after it landed $5 million in seed funding from a string of backers including high profile ex-Expedia exec Erik Blachford.
Javelin’s backing will see Vacatia invest in its recruitment programme, target overseas markets and complete a new, unannounced service.
Coinciding with the latest investment are major changes to the company’s management team.
Co-founder and CEO Keith Cox will become chairman of the company.
Fellow co-founder and ex-Hotwire executive Caroline Shin will move from chief operating officer to become CEO.
Mike Janes, former marketing chief at StubHub and Apple Store general manager, who has acted as an advisor to Vacatia for the past 12 months, will now take on a full time CMO role at the company.
Javelin’s Noah Doyle will join the Vacatia board of directors.
The Vacatia proposition is fairly simple: the idea is to allow timeshare properties to solicit fractional owners via the website, rather than traditional offline channels.
The platform allows properties to build up ownership at a lower cost and to allow potential owners to compare offers and availability across a worldwide network.
This comparison shopping leads to a more informed consumer, who will likely be more happy with their choices – and should also lead new owners into the timeshare fold.
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