England-based OTA Insight, a cloud-based platform empowering hospitality businesses with data accessibility, raised USD 80 million on 18th November.
Investors: The round was led by Spectrum Equity, an investment firm focused on internet-enabled companies. Spectrum Equity joins Eight Roads, F-Prime Capital and Highgate Technology Ventures as existing investors in OTA Insight. To date, the company has raised $100 million in funding.
Purpose of funding: The startup plans to expand its global presence. The investment will help the firm further its mission of enabling companies to make more informed commercial decisions. The company now has more than 200 employees, and by the end of 2022, it plans to have 300 to 325 employees.
About OTA Insight
Founded in 2012 by Adriaan Coppens, Gino Engels and Matthias Geeroms , OTA Insight is located in London, England. It provides hospitality businesses with online intelligence tools and data access through its cloud-based platform. The startup’s mission is to simplify hotel data visualization and exploitation by providing a comprehensive, complete and user-friendly revenue and distribution management platform. It provides revenue management solutions to over 55,000 independently owned, local and multinational chain hotels and management companies across 185 countries.
What the founders have to say
“Prior to the pandemic, the hospitality industry had been open to gradually adopting new technology. Our business experienced significant growth through 2020 despite the industry headwinds, but 2021 has been a breakthrough year for us as the recovery accelerated the pace of technology adoption. We anticipate unprecedented opportunities and growth as the recovery continues. For global chains and independent hotels alike, we have made the use of data simple and intuitive to drive better commercial decisions and provide a real competitive advantage,” said Sean Fitzpatrick, CEO and co-founder at OTA Insight.
“We are very excited about the response from our customers to our latest products and innovations. With this investment, we will accelerate our expansion across all regions in 2022 but particularly in the Americas, where we have seen an incredible recovery,” said Gino Engels, co-founder and CCO at OTA Insight.
“We are so grateful to the OTA Insight team, our customers and our partners who have continued to trust and support us through the global crisis. We strive to be a business with a great culture and strong core values that put our team members and customers first. This investment marks the next milestone on our journey as we continue to build a world-class company to serve the changing needs of the industry,” said Matthias Geeroms, co-founder and CFO at OTA Insight.
What the investor has to say
“We have a long history of partnering with leading data intelligence and decision support companies. We’re excited to join forces with the entire OTA Insight team as they grow the company and develop new products and tools to meet the demands of an industry that is hungry for new technology,” said Steve LeSieur, Managing Director at Spectrum Equity.
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