Hotel Engine Valued at $2.1 Billion Following $140 Million Series C Funding

Hotel Engine, a business-focused travel technology company, announced it has raised $140 million in a Series C funding round, led by Permira Growth Opportunities II. This round of funding brings the company’s valuation to $2.1 billion. Over the course of three rounds, Hotel Engine has raised a total of $221 million, with only $20 million in external capital before this latest round. The company continues to experience steady growth, with a reported 70% year-over-year increase in revenue. It is projected to book over 10 million room nights by 2024.

The fresh capital will primarily support product expansion, including the introduction of flight and rental car bookings, which are expected to be available by October. This move will position Hotel Engine as a comprehensive travel booking platform. As part of this broader focus, the company plans to rebrand itself as “Engine.” Hotel Engine currently connects its users to a network of more than 750,000 hotels, alongside 300 airlines and 40 rental car companies. It also provides travel suppliers free access to its Partner Hub software for marketing and management purposes.

Permira Principal Alex Melamud will join the company’s Board of Directors as part of the Series C agreement. Hotel Engine’s ability to achieve profitability and scale while continuing to expand its network highlights its competitive position in the business travel sector. The company offers its members optimized travel management solutions and competitive rates through its extensive partnerships.

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