Demeure Raises $4 Million
Demeure is a Canada-based travel company that has raised $4 million in a third round of seed funding from around 50 Canadian private investors. Demeure has raised a total of $8 million, but they have not raised any institutional funding yet.
Demeure ran a 24-month pilot and then it launched publicly last month.
Demeure lets you book a trip, list your property, or trade in the market. Demeure targets higher-end travelers by using a service subscription model, according to TechCrunch. Users can list and search properties based on location, budget, bedrooms, and keyword. Demeure can also bid on specific rental homes listed on the site.
The company will be using the funding to increase sales and marketing. Demeure will also improve their platform by increasing user privacy and engagement.
Currently, Demeure has around 1,000 users and is expecting to hit 25,000 by the end of the year. The company’s projected revenue for this year is $2 million and they are hitting a revenue run rate of $7 million by the fourth quarter of 2013.