US: Vacation rental property management solution provider TravelNet Solutions has secured investment from Blue Star Innovation Partners, a fund affiliated with the owner of American football team Dallas Cowboys, Jerry Jones.
The investment capital fund has acquired a majority stake in TravelNet Solutions, whose platform includes Track Hospitality Software, Atlas Digital Commerce and resortsandlodges.com in its offering.
According to a file sent to staff by CEO Ryan Bailey, the investment in TravelNet Solutions is “significant” and will allow the company to “develop products and services faster, hire more staff, and pursue market goals more aggressively”.
The full leadership team, including Bailey, is expected to remain in place, although the company says that it is looking to recruit in a number of key roles, such as a chief product offer and hires for its support management team.
TravelNet Solutions also intends to use the investment to pursue potential mergers and acquisitions [M&A] to supplement its existing products and services as it looks to become a unicorn [reaching a value of over $1 billion] within the next ten years.
Based at the Dallas Cowboys World Headquarters at The Star in Frisco, Texas, Blue Star Innovation Partners has recently made investments in payments systems and Jones’ family continues to invest in the fund.
Founded in 2002 in Minnesota, TravelNet Solutions has long been linked with investment opportunities and its estimated revenue for 2022 is set to reach around $27.5 million.