TourRadar raises USD 6 million to fuel expansion and marketing
Multi-day tour and activity specialist TourRadar has secured a $6 million Series A investment from Hoxton Ventures and Cherry Ventures
The Austria-based company (TLabs here) has also got participation from previous investor SpeedInvest, an Austrian angel house, plus AWS Founders Fund.
CEO Travis Pittman says the capital will be used support its international ambitions alongside funding its marketing activity and boosting the company’s headcount.
It hopes to increase staffing levels from the current 40 to 70 within the next 12 months.
TourRadar has grown “rapidly” over the course of the last year, Pittman says, with 500 tour operators running its multi-day products in 200 countries.
Another area it has concentrated on is supporting the platform with more than 50,000 customer reviews.
The company previously raised an undisclosed amount of angel money in June 2013, with participation from ex-Expedia boss Erik Blachford, plus another angel push to the tune of $500,000 in May 2014.
Pittman claims the company has “built the best technology platform this industry has ever seen”.
“With this investment our operator’s products will be exposed to millions of travellers through our own consumer marketing efforts and distribution partners like GDSs, OTAs, Metasearch platforms and Content Publishers via our simple bookable API.”
Hoxton Ventures has previously invested in Yieldify and BD4Travel, whilst the Germany-based Cherry has Quandoo and Aloha on its porfolio.
Read original article