London-based hospitality and travel technology provider aims to grow further globally, including in the Americas, and drive further consolidation in a fragmented market
HotelRunner hails validation of 'recession-proof model' with $6.5m Series A
Hospitality and travel technology developer HotelRunner has closed a $6.5 million Series A funding round led by new and existing investors.
The London based firm says the funding will be used to drive further growth globally, including in the Americas where it is preparing to open offices in coming months.
It is also looking for further acquisition opportunities as it bids to consolidate a fragmented travel technology industry.
The funding round was led by 212, Wix Capital, Founders Factory, Ascension Ventures, and DHM.
They were joined by a group of travel and technology veterans and angel investors, who also joined the advisory board of the company, including Gerry Samuels, Melih Odemis, Daniel King, and Niels Gron.
HotelRunner has seen considerable growth despite the COVID pandemic and now has thousands of customers using its technology in 193 countries.
It has developed a suite of technology to deliver a unified sales, operations, and distribution management platform, AI-driven business intelligence solutions, and market network.
The firm says its platform support resort hotels, independent properties and holiday rentals, to run “full-scale digital operations, while its B2B network allows its partners to find, connect, and transact with each other online at scale”.
HotelRunner claims to process more than 35 million transactions daily between properties, travel agencies, travellers, and payment gateways.
Arden Agopyan, founder and managing partner of HotelRunner, said: “Since the day we founded HotelRunner, we draw our strength from our conquering technology and trailblazing persona, and work with the sole ambition of moving our partners and the industry forward, also preparing them for the future.
“This funding will provide us with the extra means to significantly further our efforts to realise our mission of offering a global networked marketplace where all travel industry players can participate fairly and trade seamlessly with each other.”
Today HotelRunner has five offices based in give cities in three countries and employs over 100 people. It says it is profitable “thanks to its agility and adaptive technology providing sustainable growth opportunities for its partners”.
Expansion into the Americas will “unlock the potential to bring scalable and low-cost growth opportunities for the hospitality industry in the US and LATAM”, the firm added.
Ali Beklen, founder and managing partner of HotelRunner, said: “We take pride in being the trusted technology and sales partner that has been shaping the outlook of the industry for over a decade with our power to adapt quickly in turbulent environments.
“Raising this capital is the pure validation of HotelRunner’s recession-proof growth model. We will further excel our pioneering platform and continue building a bigger travel economy for every player in the global ecosystem.”
Numan Numan, founding partner of 212, added: “We take great pleasure in partnering with companies inventing technologies and business models transforming the industries globally.
“HotelRunner has always had a passion for growing the travel economy and democratizing the usage of technology, which is why we have supported Ali and Arden throughout their entire journey since the inception of the company.
“Witnessing what they have achieved so far, we can’t help but get excited about the potential HotelRunner promises to the entire world”.
Darya Fuks, head of corporate development at Wix, said: "Wix's partnership with HotelRunner is another step in creating the go-to solution for businesses to manage their operations and grow efficiently.”
Last June, HotelRunner and Wix announced a strategic partnership combining Wix’s online platform with HotelRunner’s travel technology solution to form a “complete solution” for all types of accommodations to manage and grow their hospitality business online.