Hotel search engine Room 77 has raised $10.5 million in series B financing, bringing its total to $13.5 million
Room 77 raises $10.5m for room-level hotel search concept
Hotel search engine Room 77 has raised $10.5 million in series B financing, bringing its total to $13.5 million. The round was led by General Catalyst Partners with participation from existing institutional and angel investors.
These included PAR Capital Management; Sutter Hill Ventures; Felicis Ventures; Rich Barton, founder of Expedia and co-founder of Zillow; and Erik Blachford, former CEO of IAC Travel.
The site, which launched earlier this year, has been compiling information on 500,000 individual hotel rooms. Their goal is to index every room at every three- to five-star hotel and resort worldwide – an estimated 25,000 properties. To date, the company has indexed more than 2,500.
“The first generation of hotel search focused on bringing hotels from offline to online. Our aim is take hotel search to the next level by empowering travelers with more information and transparency to find the right hotel and the best room,” said Brad Gerstner, founder and chairman of Room 77.
“We’re pleased to have General Catalyst join our esteemed roster of existing investors — all of whom have proven track records identifying innovative business models in early stages that ultimately become category leaders.”
Room 77 currently has concentrated property and room data in 23 US locations, plus London in the UK.
It has also developed an iPhone app that lets travelers enter room numbers offered by a hotel clerk. The app instantly advises whether to “take” or “leave” the room and presents alternate room suggestions. An Android app is expected to be released this summer.
