- Hotel Engine recently announced it raised $65 million in Series B funding and a valuation of $1.3 billion. These are the details.
Hotel Engine — the world’s largest Lodging Performance Network — recently announced it has raised $65 million in Series B funding. And existing investor Telescope Partners led the round with participation from funds managed by Blackstone. This investment values Hotel Engine at $1.3 billion, nearly 9x higher than the Series A just 2 years ago. In 2019, Hotel Engine had raised $16 million in funding with over a $150 million valuation.
Telescope Partners led Hotel Engine’s Series A and also serves as the lead investor in this round. And joining Telescope is Blackstone, a leading global investor and a new partner for Hotel Engine.
Amid a global pandemic that has stretched nearly two years, Hotel Engine sustained an incredible growth trajectory, breaking company records monthly. And the company is profitable, a notable distinction in the world of hyper-growth tech companies.
KEY QUOTES:
“The new and exponentially higher valuation is an exciting milestone for all of us at Hotel Engine, and it’s just the beginning. This capital infusion will allow us to innovate faster, grow our global network of lodging partners, and add more world-class talent to our team.”
“We know the world of travel is changing, and so are the priorities of businesses and their travelers. We’re excited for the opportunity to help shape this industry’s evolution.”
— Elia Wallen, founder and CEO of Hotel Engine
“Since our investment in late 2019, we’ve worked closely with Elia and the Hotel Engine team, and are consistently impressed by their passion, tenacity and singular focus on business lodging. There is no other company that delivers a friction-less, easy-to-use solution for travelers, and they’re just getting started. We’re thrilled to be able to strengthen our partnership, and excited by the opportunities ahead for Hotel Engine.”
— Telescope’s Managing Partner/Founder and member of Hotel Engine’s Board of Directors Mickey Arabelovic
