Triptease raises a further $4m from investors BGF and Notion Capital

Triptease raises a further $4m from investors BGF and Notion Capital

London-based Triptease has raised $4m of funding from its investors taking the total amount raised since last year to $13m.

The Software as a Service start-up that helps hotels drive more direct bookings raised the latest investment from BGF and Notion Capital.

Triptease has developed a software platform for hotels looking to increase their online conversion rate and take share from online travel agencies (OTAs).

The firm says hotels are keen to avoid the large commissions paid to OTAs but need tools to make sure that travellers complete bookings through their website.

Charlie Osmond, founder and Chief Tease at Triptease, says: “We are delighted that our investors want to back us further in our bid to shift the world to direct bookings.

“A direct relationship with customers reduces a hotel’s spend on middleman commissions whilst allowing them to offer cutting-edge services like mobile check-in alongside ancillary upsells.

“Savvy consumers have also started to realise hotels prefer guests who book direct. Room upgrades and special incentives have become commonplace benefits for booking direct.”

The new investment will be used to help build Triptease’s business in Asia, where the company opened an office in Singapore office.

Triptease will also continue to evolve its product with the roll out of its automated chatbot to more hoteliers.

The firm is also expanding its global leadership team having made a number of changes in the last few months, in order to step up its expansion in Asia.

Richard Collins, the company’s first chief revenue officer, joined in March from Click Software, while Alexandra Zubko, co-founder and general manager of the Americas, will become chief customer officer. A head of the Asia Pacific region will be appointed shortly.

Simon Calver, head of investments – ventures, at BGF, said: “Triptease is building its business around the world very rapidly.

“As consolidation takes place across the travel sector, there is a huge opportunity for Triptease to sell its software to hoteliers who really care about building a high quality business.

“As a patient capital investor BGF is excited about the long-term growth potential that travel offers for disruptive software businesses and we are very happy to provide Triptease with more capital as its expansion continues apace.”

The new funding will also allow Triptease to invest more in its Direct Booking Summit, which takes place in different regions around the world three times a year.

The next summit is being held in Amsterdam on 27 June, with representatives from Best Western, Google and Airbnb. Travolution is media partner for the event.

Further summits will be held in Dallas in October and in Singapore in 2019.

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