News

An Australian property management system provider originally established to help caravan, camping and tourism parks offer online bookings has just received major investment to accelerate its growth. NewBook, a family-run business established in the 1980’s, has secured a significant investment from Australasia’s leading technology-focussed private equity firm Potentia Capital, which will help the company continue on its impressive growth track.

Founded by husband and wife team Brad and Shaye Illich in 2010, NewBook initially set about fulfilling the online booking needs of the underserved tourism industry and caravan parks segment in Australia. Today the company is a leading booking and property management system provider to the entire accommodation industry, serving more than 1,600 businesses in 52 different countries.

Potentia Capital holds a solid track-record in scaling Australian 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.

Brad 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.

Brad said: “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.”