Triptease raises another $9 million, targets Asia

Hotel direct booking platform Triptease has raised another $9 million and will use some of the capital to open an office in Singapore and launch its service into Asia.

It is also planning to double its headcount in London and New York.

The Series B round has been led by new investor, BGF Ventures. Rory Stirling, a partner at BGF noted that Triptease is “showing great growth in the markets where it has established a presence [and] now it’s time to expand the software to Asian hotels, to make this a truly global product.”

The growth is in the quadruple-digit range, according to a statement which said that “Triptease’s platform delivers over $1 billion worth of direct booking revenue to hotels, while the company’s own revenue has grown by 1000% over the last six quarters.”

Its main product is the Triptease Direct Booking Platform, best known as a price comparison engine which sits on top of the hotel’s web site and compares the hotel dotcom price with OTAs selling the same room. It also has a range of other marketing, conversion and analytics tools, all of which are focussed on driving direct bookings.

It currently works with 17000 hotels.

Current investors Notion Capital and Episode 1 Ventures, which backed Triptease’s $7 million Series A round in February 2016, and a $2 million pre-Series A the previous year, have also contributed to the latest injection.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *