Demeure, an Ontario, Canada based online travel marketplace has recently secured $4 million funding, thereby taking the total funding till date raised to $8 million. As per the reports, the investment was led by 50 Canadian private investors including both new and existing shareholders by ways of a rights offerings.
The funding will be used to grow Demeure’s sales and marketing efforts, and continued investment in the Marketplace Management System. This system helps vacation property owners increase yield and obtain accurate, market-based value for their property and provides travelers access to unique travel experiences at a fair value.
Demeure is founded in 2009 with the aim of redefining the cluttered online travel agent, vacation rental, home exchange and destination club industry. It offers over 2300+ properties to plan budget vacations including private villas, boutique hotels, resorts, yachts, cruises, excursions, and more.
Recently launched after a 24 month pilot program, the multi-sided marketplace uses a proprietary algorithm to assess several key criteria including seasonality, dates available, and historical and current market demand to determine the market value of a given property.
The travellers can list and search properties based on location, bedrooms, budget and keyword along with an auction forum where users can bid for vacation packages online. Also, with Demeure’s patent-pending technology, owners can trade empty nights to purchase travel anywhere in Demeure’s curated portfolio of thousands of professionally hosted properties.
It also provides the facility of ‘Private Assistants’ who on part of the traveller, will conduct research, coordinates trip, helps get the best deals, and more.
At present, Demeure has about 1,000 users and aims to reach 25,000 by the end of the year.
Globally, other players in this space includes AirBnb and Homeaway, which recently acquired Singapore based TravelMob. In Indian context, there are existing players like Makemytrip, ThomasCook, Tripadvisor, Tripit etc.
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Category Internet Investments News Startups