Hotel booking tech company SiteMinder has become the country's newest $1 billion tech unicorn, banking more than $100 million in capital from investors such as BlackRock, Ellerston Capital, Pendal Group and AustralianSuper.
The business provides the core technology that has allowed websites such as Agoda and Booking.com to boom, connecting hotels' back-end systems to those of the booking websites so all systems can be updated simultaneously, regardless of whether a booking is made via the hotel or a third-party site.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
