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Same-day hotel deals company HotelTonight has announced $9 million in Series B funding. The new capital funding was led Battery Ventures and included participation from Accel Partners and First Round Capital.
Since launching in January 2011 HotelTonight has enjoyed more than 1,000,000 iPhone and Android app downloads and is now featured in 28 cities with 7 more markets launching before the end of 2011.
Unlike traditional websites such as Hotels.com and Orbitz.com the HotelTonight platform works with more than 600 leading hotels to offer their customers same-day booking prices which can be grabbed in less than 10 seconds using the company’s platform.
Using the system hotel management can provide their left over inventory using “impulse rates” which won’t affect their bottom line since the rooms are likely to remain vacant for most last moment booking parties.
According to Battery Ventures partner Brian O’Malley:
“We’re excited by how quickly HotelTonight has grown since our Series A earlier in the year … The metrics clearly show the intersection of a superstar team and a strong pull from the market for great last-minute deals discovered through mobile devices.”
Also praising the new round of funding was Theresia Gouw Ranzetta, Partner at Accel Partners. :
“We’re going to see the emergence of new global brands as mobile disrupts traditional desktop players … HotelTonight is proving this in the travel category, as consumer behavior shifts towards on demand, impulse booking.”
The new round of funding will be used to expand the company’s mobile platforms in order to accelerate customer acquisition and to expand both nationally and internationally.
Have you used HotelTonight for a last minute booking? What did you think of the system.
