According to Finsmes, the round was led by Adams Street Partners with participation from existing investors Altos Ventures, Silverton Partners and other travel industry angel investors.

The company, which has raised $41m in total capital since 2013, intends to use the funds for expansion into new markets and the continued development of its mobile technology platform.

Co-founded in 2012 by Executive Chairman John Banczak and CEO T.J. Clark, TurnKey is a vacation rental property management company that markets and manages premier vacation rentals in 40 markets. Its proprietary technology platform includes tools to help owners manage housekeeping, maintenance, inspections, and other logistics with features real-time financial information, guest reviews, maintenance, and housekeeping tracking, as well as detailed photos of every aspect of a home taken after each stay.

To increase its solution offering, during 2017, the company will roll out virtual tours, floorplans and 3D models of all its homes, along with omni-channel communications that enable guests to communicate via phone, email, SMS or chat, and will launch TurnKey HomeDroid, an in-home tablet featuring information for guests, from how to use the home to the location of the nearest gas station.