Ballast Point Ventures announced a $5 million Series B investment in Key Data Dashboard (“Key Data”), which provides benchmark and comparative market performance data for the vacation and short-term rental industries. Key Data’s platform integrates directly with property management systems to collect real-time reservation and booking data from 400,000 properties around the globe.
“As a former property manager, I understood firsthand the difficulty of obtaining accurate and real-time pricing data across a varied property portfolio,” said Key Data Chief Executive Officer, Jason Sprenkle. “We were determined to solve this problem for property managers with comprehensive and accurate real-time data.”
Sprenkle continued, “We are excited to bring an institutional investor into our company and are eager to get to work with Ballast Point Ventures. We look forward to this next leg of the journey and to continue to deliver a comprehensive solution to our many customers.”
According to a press release, “[Key Data’s] benchmarking and business intelligence dashboards aggregate proprietary, directly sourced data, providing historical, real-time, and forward-looking market data for customers seeking to understand hospitality trends for any given global market. Key Data will use the investment to accelerate development of its technology and product platform, add to its sales and marketing efforts, and for general corporate purposes.”
“As BPV has gotten to know Jason over the last several years, we’ve been very impressed with the growth and success that Key Data has been able to achieve with minimal outside investment,” said Ballast Point Ventures partner Robert Faber who will join Key Data’s board of directors. “Given our focus on partnering with rapidly growing private companies with great management teams in the Southeast and Florida, in particular, Key Data is a great fit for us.”
“We are excited to partner with Jason, Scott McLeod, Dan Haligas, and the entire Key Data team to drive continued growth and solidify the platform’s position as the leading provider of accurate, real-time vacation rental data,” Faber added. “Given some of the dynamics brought on by the pandemic, we believe that the work-from-anywhere trend is likely to make short-term rental data an even more important part of the picture for travel and hospitality markets.”
Key Data has raised $7.4 million to date and recently won the 2021 Technology Innovation Award sponsored by Expedia Group at the 3rd Annual Data and Revenue Management (DARM) Conference.