Hotel Engine, a Denver, Colorado-based travel tech company specializing in hotel booking solutions for business travel, has raised $140 million in Series C funding, valuing the company at $2.1 billion.
Investors
The round was led by Permira Growth Opportunities II.
Permira is a global investment firm established in 1985, managing approximately €80 billion in capital across private equity and credit. Its Permira Growth Opportunities (PGO) division focuses on scaling disruptive technology and tech-enabled companies.
Hotel Engine Use of Funds
The company will use the funding to support the launch of flight and car rental bookings, transforming it into a full-service business travel platform. The new services will go live in October, alongside the company’s rebrand to "Engine.
About Hotel Engine
Hotel Engine provides a travel technology platform designed to simplify and streamline business travel, with a focus on hotel bookings and related services. It connects business travelers with a network of over 750,000 hotels, 300 airlines, and 40 rental car companies, enabling comprehensive travel management in one place. The company also offers a Partner Hub for travel providers, such as hotels and airlines, to create marketing campaigns, manage reservations, and offer deals directly to business travelers.
Funding Details
Company: Hotel Engine, Inc.
Raised: $140.0M
Round: Series C
Funding Date: September 2024
Lead Investor: Permira Growth Opportunities II
Additional Investors:
Company Website: https://www.hotelengine.com/
Software Category: Travel Management
Source: https://www.globenewswire.com/news-release/2024/09/17/2947398/0/en/Hotel-Engine-Achieves-2-1B-Valuation-With-140M-Permira-Investment.html