FOCUS Investment Banking Represents RedAwning.com in Raising $40 Million of Growth Equity

Rapidly growing, profitable business platform secures one of the largest initial financings in the Vacation Rental Segment of the travel industry.

RedAwning has been recapitalized by Silversmith Capital Partners and Elephant VCWashington, DC (August 9, 2017) -- FOCUS Investment Banking is proud to announce that its client, RedAwning.com, has secured a $40 million growth equity investment led by Silversmith Capital Partners to expand its global vacation rental network.  The investment will help extend RedAwning’s unique business model in existing markets as well as its expansion into new global territories. Funds will also be used to accelerate development of its innovative technology platform which enables property managers to consistently beat competitive property booking results through a combination of listing optimization, marketing algorithms, dynamic analytics, and targeted distribution. Boston-based Silversmith Capital Partners led a significant minority investment in the already profitable company.  Co-founder, CEO and three-time entrepreneur CEO Tim Choate and co-founder and CTO Lance Nelson will continue to lead and scale the business.

“RedAwning has reinvented the business of channel management for the vacation rental segment while improving the guest experience as well,” said Jim Quagliaroli, Managing Partner of Silversmith. “Beyond traditional models that are primarily connectivity-based, RedAwning has built a complete, multi-faceted business solution for vacation rentals that has provided tremendous value to property managers and guests.”

“Our success is due to how much more value we provide to property managers - not just in increased bookings, but in reputation and time-savings. Our strong focus on technology and customer service has created a three-way win for travelers, property managers, and our global OTA partners,” stated CEO Tim Choate.

Managing Director David Roberts, who led the FOCUS team, stated “RedAwning has demonstrated a deep understanding of both the technology and marketing challenges in this rapidly changing industry.  Its focused business execution has resulted in rapid penetration of multiple channels, critical services for a wide variety of property managers and dramatic growth in clients and revenues.”

About RedAwning

RedAwning is the world's largest branded network of vacation rental properties, combining a layer of consistency and trust with 24/7 guest and property manager support services for every stay. With over 100,000 unique rental properties in over 10,000 destinations, RedAwning is the leading supplier of vacation rentals to every major online booking website, including Booking.com, Expedia, HomeAway/VRBO, FlipKey/TripAdvisor, and Airbnb.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Digital Map Products, Impact Radius, LifeStance Health, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Yapstone. For more information, visit http://www.silversmithcapital.com.

About FOCUS Investment Banking LLC

FOCUS Investment Banking LLC is a leading middle market investment bank that provides advice and services to entrepreneurs, corporate owners, and investors across a broad range of industries both domestically and worldwide. With offices in major cities across the US, FOCUS specializes in providing mergers, acquisitions, divestitures, and corporate finance services to business units with transactions or revenues in the $5-300 million range.

For more information, visit www.focusbankers.com.  Contact david.roberts@focusbankers.com.