SANTA ROSA BEACH, FL – July 26, 2022 - Key Data Dashboard, the leading provider of trusted vacation and short-term rental data, today announced that it has secured a $5 million credit facility from Signature Bank, a New York-based full-service commercial bank with a dedicated Venture Banking Group serving venture-backed startups and their investors nationwide. This new credit facility will complement a $5 million Series B round led by Ballast Point Ventures and is intended to support several key initiatives.
“We’ll use this new capital to fund Key Data’s high growth initiatives, which include our new direct-to-consumer platform, an expansion of our enterprise data offerings, and an acceleration of our growing international presence,” said Jason Sprenkle, Chief Executive Officer of Key Data.
“We’ve effectively doubled our team, revenue, and customer base over the past twelve months, and we are excited to be leaning further into the explosive growth that the short-term rental industry has been experiencing. The pandemic, the shifting economy, and the overall growth of the space have fueled tremendous demand for our data, as has the recent confluence of real estate and short-term rental data for investors, REITs, and underwriters. We’re eager to keep pace by delivering new tools, expanded offerings, and an unwavering commitment to providing the most accurate, timely, and trusted data available.”
“The hospitality industry continues to evolve as online marketplaces for vacation rentals and investment properties are on the rise. Key Data’s innovative vacation rental data products provide real-time insights and analytics to drive revenue -- not only for individual investors but also large-scale property managers and tourism organizations,” explained Dhruv Patel, Senior Vice President in Signature Bank’s Venture Banking Group.
“Jason and his experienced team are no strangers to success. After two prior exits, Glad To Have You™ and 360 Blue, the team was ready to make their mark in another venture and we welcomed the opportunity to be involved. We look forward to working with Key Data and their investors, including Ballast Point Ventures, as the company continues to expand and serve this growing market,” added Patel.
About Key Data Dashboard
Key Data is the leading provider of trusted vacation rental data and solutions. Through direct partnerships with lodging providers worldwide, Key Data is uniquely positioned to offer the most timely and accurate data and toolset used by countless industries that depend on insights into this exploding segment of travel. Key Data is a privately held company based in Santa Rosa Beach, Florida. For additional information, visit www.keydatadashboard.com.
About Signature Bank
Signature Bank, member FDIC, is a New York-based, full-service commercial bank with 38 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers.
The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.
Since commencing operations in May 2001, Signature Bank reached $115.97 billion in assets and $104.12 billion in deposits as of June 30, 2022. Signature Bank placed 19th on S&P Global’s list of the largest banks in the U.S., based on deposits at year-end 2021.
Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform. Signet™ allows commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.
For more information, please visit https://www.signatureny.com.