Quick-term rental monitoring startup Minut raises further $5M

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Quick-term rental monitoring resolution startup Minut has acquired an extension of $5 million in funding for its Series B round that closed in March 2022 to deliver the overall to $20 million. The brand new funding comes from Smedvig Capital.

“Having identified the Smedvig workforce for a few years, we felt it was the proper time for them to hitch on the stage we’re in, bringing a powerful portfolio and experience in Nordic and U.Okay. tech investments,” mentioned Nils Mattison, co-founder and CEO of Minut.

“With this new capital, we will redouble product improvement efforts and leverage our STR management into new verticals with a extra aggressive hiring plan in each our European base and our worldwide markets.”

Sweden-based Minut, which helps property managers and hosts to observe their properties and automate workflows, plans to make use of the funding to fund product initiatives.

Throughout 2023, Minut launched two new options together with a sensor that may detect noise indoors and outdoor together with a cigarette detection characteristic. And the corporate just lately expanded to resorts in an effort to stop smoking in resorts rooms through which it isn’t approved. 

Freddie Kalfayan, senior affiliate at Smedvig Capital, mentioned that the agency has been following Minut’s journey for greater than a half decade.

“Minut [has] a incredible alternative to change into the worldwide chief in short-term rental property monitoring, enabling property house owners and managers to stop antagonistic occasions and drive materials effectivity enhancements of their day-to-day operations via a lot of workflow automations,” Kalfayan mentioned.

“They’ve developed an distinctive, high-quality product that’s cherished by prospects and has continued to evolve at tempo since we’ve been monitoring them. Their roadmap forward takes them additional on their journey to change into a vital ‘co-host’ for operators, enabling prospects to create superb visitor experiences and drive operational effectivity.”

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