Australian property technology firm Hometime has successfully secured USD$13.3 million in a new funding round to fuel its aggressive expansion strategy. The capital injection is a strategic mix of venture funding and a debt facility, designed to finance further acquisitions across the short-term rental market. This move underscores investor confidence in Hometime's robust business model and its significant growth potential within the property management sector.
Strategic Capital for Expansion
The equity portion of the round was spearheaded by Verona Capital, the family office of prominent investor Craig Burton, with strong backing from fifteen existing shareholders and several new family offices. While the specific breakdown between equity and debt remains undisclosed, the financing also includes a significant debt refinance and acquisition facility with the Commonwealth Bank. This blended financial structure provides Hometime with both the flexibility and the firepower needed for its next phase of growth.
Notably, the funding round was oversubscribed by more than $3.5 million, signaling strong market enthusiasm for the company's prospects. This surplus demand created a secondary opportunity, allowing early seed and Series A investors to achieve partial liquidity on their initial investments. Among those benefiting were early backers associated with Asia Principal Capital, one of Hometime's first institutional supporters.
A Proven Growth Trajectory
Hometime's leadership has clearly earmarked the new capital for continued acquisitions throughout Australia and New Zealand, building on a successful consolidation strategy. Chief Executive William Crock confirmed the plan is to expand the company's network by integrating the best local property management operators into the Hometime ecosystem. This approach has already proven effective, with the company completing over a dozen purchases in key tourism towns over the past two years.
The company's financial performance validates its strategic direction, demonstrating a compound annual growth rate in revenue of 54 percent between the 2022 and 2025 financial years. This impressive growth is further reflected in its booking volumes, with the platform on track to process over $105 million in annual bookings this financial year. These metrics highlight Hometime's increasing market share and operational efficiency in the competitive short-term rental industry.
Building on a Strong Foundation
Founded in 2016 by university friends William Crock and Dave Thompson, Hometime has evolved into a comprehensive management platform for short-term and holiday rentals. The company now oversees a portfolio of more than 3,500 properties, offering a full suite of services that includes marketing, guest communication, cleaning, and maintenance. This end-to-end solution serves both individual property owners and collaborators like Airbnb hosts across dozens of Australian locations.
This latest capital raise adds to a history of successful funding rounds that have propelled the company's growth since its inception. Hometime has previously attracted capital from notable investors, including Asia Principal Capital, OneVentures, and NAB Ventures. A significant $7 million round in 2024, led by Fifth Estate Asset Management, previously fueled a successful buying spree that included key acquisitions in Cairns and Melbourne.
This $13.3 million funding round marks a pivotal moment for Hometime, equipping it with the necessary resources to accelerate its market consolidation strategy. By acquiring and integrating smaller operators, the company is poised to enhance its service network and solidify its leadership position in the Australasian property technology landscape. The continued backing from both new and existing investors affirms Hometime's trajectory as a dominant force in the evolving short-term rental sector.
Source: StartupDaily