Investment supports continued expansion of AI and business intelligence capabilities
_w=800_h=131.png?v=20230522122229)
Lighthouse closes $370M Series C round
Travel and hospitality commercial intelligence platform Lighthouse has revealed it has secured around $370 million in Series C investment, led by global investment firm KKR.
This investment accelerates Lighthouse's mission to reimagine commercial strategy for the $15 billion travel & hospitality technology market.
Proceeds from the investment will be used to drive continued product innovation across Lighthouse's platform, strategic acquisitions, and global expansion efforts.
Lighthouse will be able to leverage KKR’s extensive industry experience, local resources and global network to help further enhance its customer offerings and tap into new segments globally.
“Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment,” said Stephen Shanley, partner and head of tech growth in Europe at KKR.
“Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space. We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings."
Sean Fitzpatrick, CEO of Lighthouse, added: “I couldn’t be more energized by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable.
“This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market.”
This latest funding builds on Lighthouse’s $80M Series B investment round – when it was formerly known as OTA Insights - which was completed in November 2021.
Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will continue their participation in the business.
KKR is making the investment in Lighthouse through its Next Generation Technology III Fund.
William Blair acted as financial advisor for the deal, while Latham & Watkins served as legal advisor to Lighthouse and Gibson Dunn as legal advisor to KKR.
