Tansler announces $1.3 million in additional funding and wins General Catalyst Award for Travel Innovation and The Most Innovative Emerging Company at the Phocuswright Innovation Summit.
“Save time. Save money. Haggle free.” That’s the promise of vacation rental marketplace Tansler which today launches after two years of beta testing with a mission to shake up the $135 billion share economy and vacation rental industries. Tansler, an anagram of Rentals, introduces a patent-pending process that enables consumers to set their price, choose multiple homes and submit one binding offer. Owners/Managers compete for the booking through a 24-hour ‘reverse auction’ and the first one to accept the offer ends the auction and confirms the reservation. This new approach saves consumers 10 to 50 percent on more than 500,000 rentals in 150+ countries worldwide.
“While it takes minutes to book a flight or hotel, it takes hours and sometimes days of emailing, haggling, and waiting to book a vacation rental, and that’s unacceptable,” said Jeremy Bernard, CEO and Founder of Tansler. “At Tansler, we set out to improve the process for both sides of the transaction. The result is that owners/managers are delighted to receive the entire, non-refundable payment at the time of booking, while the consumer enjoys big savings and quick booking.”
From the beginning, Tansler shakes up the vacation rental search by asking users to name their own price. Travelers can provide preferences for location, dates and number of guests. Those looking for destination inspiration, can search the world of Tansler by date and price only.
Tansler searches its database of 500,000 properties in 150+ countries worldwide and provides a set of search results that meet the user’s criteria. Tansler displays the listed rate of each property alongside the renter’s offer and discount off the listed price.
Next, users select as many properties they like, provide a credit card to guarantee the booking and Tansler does the rest. Instantly, selected properties receive the offer with a 24-hour timeline to accept. The reverse auction ends when the first owner/manager accepts the offer, or after 24 hours.
All transactions on Tansler are binding for both renters and owners/managers, and there is no cost for hosts to list their properties or for renters to bid on properties. Once a booking is complete, renters are charged a six percent service fee and owners/managers are charged a three percent service fee. The service fees are at or lower than other vacation rental and share economy websites. Listings on Tansler are also non-exclusive, so owners can list properties on other websites and with real estate brokers.
Winner of Two Awards at Travel Technology’s Biggest Conference
Tansler won two awards at the annual Phocuswright Travel Innovation Summit, held on Nov. 17 and 18, 2015 during The Phocuswright Conference. Each year, innovative companies are selected to demonstrate groundbreaking applications and solutions that are set to change the travel industry. The winners represent the best of this elite group. Tansler was awarded:
- The General Catalyst Award for Travel Innovation, which comes with a $100,000 convertible note
- The Most Innovative Emerging Company
Tansler Milestones Since Beta Launch
$1.3 million in additional funding including Karlani Capital and a number of angel investors including Ken Hamlet, Former CEO of Holiday Inn® Hotels; and B Anthony (Tony) Isaac, extended stay pioneer and co-founder of Lodgeworks. Tansler has raised $2.1 million to date.
500,000 vacation rentals in 150+ countries worldwide. Inventory comes directly from global Property Managers, Property Management Software companies and partnerships with leading vacation rental websites.
New hires to executive team:
- Walter Buschta (COO) – a vacation rental veteran and e-commerce entrepreneur who is the former CMO of Interhome, the world’s largest vacation rental property management company
- Daniel Ortiz (CTO), PhD in Material Science and Engineering; former CTO of Makr, sold to Staples earlier this year