Hotel distribution and technology provider SiteMinder has won the backing of Fidelity Management with a $74 million funding round.
The investment is being positioned as a pre-initial public offering round for the Australia-based company.
Existing shareholders AustralianSuper, equity funds managed by BlackRock, Ellerston Capital, Pendal Group and Washington H. Soul Pattinson, have also participated.
SiteMinder has talked of a route to an IPO since January 2020, when it landed an investment round of around $69 million led by BlackRock.
CEO Sankar Narayan says: "We have maintained high levels of engagement with customers and partners to deliver consistently strong business performance and demonstrate SiteMinder’s resilience during these difficult industry conditions.
"Our continued investment in expanding our product suite puts us in a strong position to benefit from the recovery in travel which we are beginning to see, particularly in the many travel markets where bookings are bouncing back to pre-pandemic levels."
The company claims to have secured revenue of around $75 million during the fiscal year for 2021, including a 40% increase in its customer base.
It says the current metrics will put an IPO value in the region of $733 million.