VibeAgent attracts major new round of funding

US-based hotel search and price comparison site VibeAgent.com has raised $3 million from a group of investors in the software, travel and private equity sectors.

Investors include TRX chief executive Trip Davis who was also involved in angel funding for VibeAgent last year.

The plans is to use the $3 million for raising awareness of the website and hotel search engine amongst consumers via search engine optimisation and marketing, social networking sites and affiliate networks.

Vibeagent aggregates prices from more than 30 different hotel companies and online travel agencies including hotels.com, priceline.com and InterContinental Hotels.

The service also offers reviews of properties from consumers and has just integrated reviews from Tripadvisor for many of the properties on its system.

VibeAgent chief executive Adam Healey said further similar deals were in the pipeline.

Also new to the site is the Hotelier Suite enabling hotels to manage their content directly on VibeAgent’s search engine or put their hotel up if it is not an existing partner.
Healey also said further software releases would be unveiled in the coming months.

“With Hotelier Suite, over time you will see additional services for them to more effectively reach their target audience.”

Healey described the free Hotelier Suite technology as a ‘pure disintermediation play’, but added that premium services could be added in future which hotels would pay for.

According to Healey, VibeAgent is on course to hit profitability this time next year through continued growth of its user base and hotel and OTA relationships.

“It is a difficult environment but the companies that will be successful are those that can show a clear business model, clear progress towards profitability and are doing something different.”

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