HomeAway Raises $250M in Venture Capital

Owners of VRBO and other directory sites closes a huge round of financing, will use proceeds to pay down debt and increase marketing.

Consumers may not feel like traveling much these days. But that hasn’t stopped HomeAway, the online vacation rental marketplace, from raising an astonishing $250 million in venture capital.

Brian Sharples, chief executive, said the company was happy to secure the round despite the financial crisis. In doing so, it will likely be in a good position to either buy out its rivals or intimidate others from getting started. Sharples said the company plans to increase its marketing considerably.

Full told, the company has raised $459 million and it has 11 vacation rental sites in its portfolio. It also owns EscapeHomes.com, which connects buyers and sellers of second homes and resort real estate.

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