Marin Software expects to be able to further develop its expertise in travel technology after securing $30 million in sixth-round funding.
The software specialist said the latest funding round was oversubscribed, reflecting recent rapid expansion into overseas markets like France, Germany and, most recently, Japan and Singapore.
Since it was set up in 2006, Marin has raised $80 million in previous funding rounds, making this latest Series F round a significant investment.
The new investment has come from existing investors including Benchmark Capital, Crosslink Capital, DAG Ventures, Triangle Peak Partners, SAP Ventures and Asian investment fund Temasek.
The financing deal has seen Frank van Veenendaal, president of worldwide sales and services at salesforce.com join Marin’s board of directors.
Tim Collin, vice president sales, EMEA, said: “We are now at a point where we are able to kick on to the next level.”
Collin said the investment will enable Marin to invest in product development and client support services.
“We operate a subscription-based model, so retention of consumers is really important.
“It’s important we have the ability to innovate round the product to make sure it’s scalable, robust and we have the experts in house to support our clients.”
Marin said around 15% of its business is in travel, but due to the nature of the sector it is one of the most innovative meaning it is likely to benefit most from the new investment.
Rebecca Momberg, lead product consultant, said: “Travel has to be really nimble. When someone’s searching for a hotel you don’t necessarily know when they want that room or at what price.
“The ability to dynamically put prices into creative and turn on and off channels is essential and travel is seasonal and cyclical and things like the ash cloud can completely change your tactics.
“The advanced nature of a travel campaign means people are looking for more advanced technology.”
Collin added that advances in technology that manages digital marketing campaigns are vital for the travel sector.
“Travel companies work on really tight margins, so it’s critical they get value from their search campaigns.
“Generally PPC on Google is going up 17% per year, so costs are increasing, but with better management of campaigns through Marin the trend was are seeing is -0.5%.”