Waterloo travel startup Demeure announced today that it has secured $4 million in funding from new and existing shareholders by way of a rights offering. This is its third round of seed funding from approximately 50 Canadian private investors and brings the startup’s total funding to $8 million.
Demeure is an online travel marketplace that aims to alter the way vacation property owners and travelers share and discover unique, authentic travel experiences. Vacation properties in the Demeure portfolio are curated and carefully selected for the one-of-a-kind experiences they offer to the Demeure community.
The funding will be used to grow and expand the reach of Demeure’s online travel marketplace through sales and marketing efforts, and continued investment in the Marketplace Management System, which helps vacation property owners increase yield and obtain accurate, market-based value for their property and provides travelers access to unique travel experiences at unbeatable value.
“The growth momentum we’ve experienced puts the multi-sided Demeure marketplace at an advantage as the sharing economy begins to adopt this emerging model," says Peter Schwartz, chief executive officer of Demeure. "We have rewired the cluttered online travel agent, vacation rental, home exchange and travel club markets to create unique value added services and authentic experiences for all participants."
"The investment announced today will help Demeure provide vacation property owners market-based value for their property, and travelers the confidence they will get exceptional value, and have amazing, unique experiences in more locations worldwide," he added.
According to an interview with TechCrunch, Demeure currently has 1,000 users and is targeting 25,000 by the end of the year.