The Austin-based startup received the funding from Adam Street Partners which led the Series C round along with existing investors including Altos Ventures, Silverton Partners and prominent travel industry angel investors.
To date, the company has raised $41 million in funding since its founding in 2012.
The company plans to use the funds to expand into new markets and to continue to develop its mobile technology platform.
“On the eve of the South by Southwest Conference in Austin, the timing couldn’t be better to fund the next stage of TurnKey,” Jeff Diehl, managing partner and head of investments at Adams Street Partners, said in a news statement. “TurnKey is an innovative and highly successful company that is setting a new standard for the private accommodations industry, and we’re excited to partner with the management team.”
TurnKey provides vacatioon rental management services for homeowners who rent out their houses in 40 markets in the United States. Co-Founder John Banczak, formerly with HomeAway, BedandBreakfast.com and Hotwire and co-founder and CEO T.J. Clark, formerly with Hotwire, IAC, Limohn os.com, lead the company.
“This year, TurnKey will roll out virtual tours, floorplans and 3D models of all its homes, along with omni-channel communications that enable guests to communicate via phone, email, SMS or chat,” according to a news release. “TurnKey will also launch the next generation of the TurnKey HomeDroid, an in-home tablet that has extensive information for guests, from how to use the home to the location of the nearest gas station.”