Denver-based travel technology company, Hotel Engine, has successfully raised $140 million in a Series C funding round, led by Permira Growth Opportunities II, a fund advised by the global private equity firm Permira. With this new infusion of capital, the company plans to accelerate product development and expand its offerings, including the launch of flight and rental car bookings in October. This will transform Hotel Engine into a comprehensive solution for business travel, reflecting the company’s broader focus and leading to a rebranding as “Engine.”
Known for its cutting-edge technology and features such as consolidated invoicing, incidentals coverage, 24/7 customer support, and no-fee travel management software, Hotel Engine has become a preferred choice for businesses of all sizes. Its unique approach, which doesn’t require contracts, minimums, or agent-assist fees, simplifies adoption across industries.
Currently, the platform connects travelers to a network of over 750,000 hotels, 300 airlines, and 40 rental car companies. Travel providers can also utilize Hotel Engine’s free Partner Hub software to manage reservations, offer deals, and run marketing campaigns.
Despite using just $20 million in outside capital, Hotel Engine has seen its valuation soar to $2.1 billion, up from $1.3 billion during its Series B in November 2021. The company continues to be profitable, reporting a 70% year-over-year revenue growth and projecting over 10 million room nights booked this year.