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SiteMinder advised on $1bn capital raising
Gilbert + Tobin has advised SiteMinder on a capital raising set to break through the $1 billion valuation.
Tony Zhang
Firm: Gilbert + Tobin (SiteMinder)
Value: $1 billion.
Area: Capital.
Key players: The G+T team was led by corporate advisory partner and co-head of the G+T corporate advisory group Costas Condoleon, partner Kevin Ko and senior lawyer Annabel Humphreys.
The G+T team also included tax partner Muhunthan Kanagaratnam, technology and digital partner Andrew Hii and corporate advisory lawyers Andrea Bennett and Arda Reznikas.
Deal significance: Mr Gondoleon and Mr Ko commented: “We are delighted to have advised SiteMinder on this significant capital raising from a round of high-quality, sophisticated investors. These are exciting times for Australia’s newest tech ‘unicorn’ and it’s our privilege to have assisted SiteMinder [in] its continued growth and success.”
SiteMinder was founded in Australia in 2006 and has grown to be a global market leader in hotel guest acquisition software technology, having processed 105 million bookings through its platform for more than 35,000 hotels worldwide.
The latest capital raising comes after a successful year where they surpassed $100 million in annual recurring revenue, giving the company an approximately $1.1 billion value enabling future global growth and investment in innovation and research & development.
