Secret Escapes pulls in another £52 million

Members only luxury deals site Secret Escapes has raised another £52 million, bringing the total raised since its launch in 2011 to more than £150 million.

The latest injection comes from a new investor, UK-based Old Mutual Global Investors. Old Mutual will be renamed Merian Global Investors in autumn 2018 after the business was bought by managers and some funds associated with Boston MA-based TA Associates.

TA’s current tech investments include PROS, Raddix, Plusgrade and Rategain.

Secret Escapes has some 50 million members aross 21 countries.

It said that the funding would be earmarked “to accelerate the ongoing integration of the Slevomat Group,” the central/East European business it acquired last September.

It also said the cash would help “to execute several strategic projects such as in-house hotel and flight packaging across its established markets.”

At the time of the Slevomat deal, Secret Escapes co-founder Alex Saint told tnooz that Secret Escapes was trialling dynamic packaging at its UK point of sale. The UK business is currently licensed to carry nearly 50,000 package holiday customers a year.

The statement also said that Secret Escapes is “achieving significant full year group profitability in 2018.”

Related reading from tnooz:

Secret Escapes raises $60 million from Google Ventures and others (July 2015)
Secret Escapes secures £8 million, plots international expansion (Oct 2012)

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