RedAwning Secures $40 Million Investment
Represented RedAwning, Inc. along with its two key stockholders, Tim Choate and Lance Nelson (the founders), in connection with securing a $40 million investment led by growth equity firm Silversmith Capital Partners. RedAwning intends to use the investment towards accelerating development of its innovative technology platform and expanding its business model to existing markets and new global territories.
RedAwning is the world’s largest branded network for vacation property rentals with over 100,000 unique rental properties in over 10,000 destinations. Silversmith Capital's mission is to partner with growing technology and healthcare companies.
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.
