San Francisco-based Sojern is a travel technology company that has raised $120 million in funding led by TCV. Sojern is known for developing a platform around traveler path-to-purchase data and innovative travel marketing and distribution solutions. In conjunction with this funding round, TCV general partner Woody Marshall has joined Sojern’s Board of Directors.
With this round of funding, Sojern is looking to build on its years of rapid growth and accelerate solutions development for its clients. The company’s clients include 93% of the world’s Fortune 500 travel companies, thousands of independent hotel companies, and local tourism providers. And the company has marked 13 consecutive quarters of profitability.
“At Sojern, we aim to know all the world’s travelers and move them from dream to destination. Our teams dig deep into the traveler path-to-purchase so we can help our clients win the competition for bookings. We’ve used those insights to drive $13 billion in bookings so far, with the goal of transforming digital marketing into digital distribution,” said Sojern’s CEO Mark Rabe. “With this new partnership with TCV, we’re excited to continue driving efficiency into the ~$100 billion being spent by travel brands around the world.”
Sojern offers a scalable model for driving bookings using a blend of programmatic display, video, social, mobile and native ads that are tailored to reach travel audiences as they plan and research upcoming trips. Last year, Sojern also acquired Facebook and Instagram Marketing partner called Adphorus.
“We have been watching Sojern’s rapid rise in the travel technology space for several years, and we were impressed with Sojern’s leadership position in the space and its unique, scalable model for influencing travelers worldwide. Sojern’s ability to both conceptualize a better marketing experience for travel organizations and their steady execution over the past decade, as well as their innovative business strategy, strong executive team, and inspiring company culture made them a natural fit for us,” added Marshall.