Powerhouse Campground Management Suite, NewBook, has secured a major investment from Potentia Capital, a leading technology-focussed private equity firm. NewBook Founder and multi-generational RV Park operator, Brad Illich, has been the driving force behind the company’s success over the past 11 years and a thought leader for the Campground industry worldwide.
Since Illich debuted NewBook at ARVC’s Oklahoma Conference in November 2018, it has taken the industry by storm and experienced strong growth in the US campground market. In late 2020, the company secured a major contract with Equity LifeStyle Properties (ELS:NYSE), powering 200+ parks with their online booking engine and central reservation system. Potentia Capital’s significant investment from its $400m Fund 1, will undoubtedly support this phenomenal growth and catapult NewBook’s global success while continuing with Illich’s innovative and customer-focused way of business.
Potentia Capital holds a solid track-record in scaling tech businesses and was attracted by NewBook’s innovative software, market-leading brand, skilled team, and strong growth profile. It plans to back the NewBook team in accelerating the growth trajectory in its local and international markets by investing in the company’s software, customer support and go-to-market capabilities.
Illich will move from the role of CEO to Founder & President, allowing more time to focus on key industry relationships and his passion for the research and development of NewBook.
“NewBook is at an inflection point following strong growth and I feel that now is the right time for NewBook to leverage its current lead on our competitors and fast-track our global expansion. I have complete confidence that Potentia Capital will help us do just that. My passion lies with software development and the processes behind creating a first-class product, so this exciting change means I can be more focused on the R&D of NewBook. To say that I’m proud of everything the NewBook team has achieved in the last 11 years is an understatement and I couldn’t have done it without them. Onwards and upwards,” says Illich.
Cheyne Tan, Operating Partner at Potentia Capital, will be appointed as the interim CEO while NewBook undertakes a rigorous talent search for the right candidate for CEO. Tan stated, “I’ve been incredibly impressed by the NewBook team’s relentless focus on customer support and continued drive to innovate. I look forward to working with the team to cement NewBook’s global market leadership“. Also joining NewBook as Chairman is Tim Reed, the current Managing Director at Potentia Capital, and former CEO of 12 years at successful accounting software company, MYOB.
NewBook is a leading booking and property management system provider to the accommodation industry, serving over 1,600 businesses in 52 countries. Founded in 2010, NewBook has scaled over the past 11 years into a global market leader, and its clients processed over USD $1billion in booking revenue via the platform last year. Launching in the United States in late 2018 with offices in California, NewBook has experienced rapid growth in the North American outdoor hospitality industry. NewBook’s all-in-one platform includes a Campground Management System, Booking Engine, Channel Manager, Guest App, Artificial Intelligence chatbot “NEW.B.I.E” and more. With major changes happening in the travel industry during the pandemic, NewBook’s offering is uniquely placed to maximize the current boom in outdoor hospitality and immediately boost revenue, drive more bookings, and streamline operations for its users.
In true NewBook style, the company recently introduced a range of Self-Service Technology products including, Indoor/Outdoor Self-Service Kiosks and Key Dispensers, to meet the needs of the 21st-century camper and help operators provide contactless service in the wake of recent events. NewBook is a crowd-favorite among the industry for its ease of use, reliability, and intuitive nature. Discover more about NewBook and their innovative platform here: https://www.newbook.cloud/us/