Online travel agency BookIt has raised $10 million in investment from Monroe Capital, some two and a half years after disclosing it was exploring "strategic alternatives" for the business.
The company says the investment will be used to "support growth opportunities and expansion", some ten years after it first appeared on the scene from its base in Florida, US.
Other areas targeted include investment in mobile technology and boosting its current inventory of products.
The round is one of the first investments by Monroe Capital in the travel sector since it got involved with Merrill Lynch to finance the acquisition of Tzell Travel (part of the Travel Leaders Group) by Corporate Travel Holdings in 2007.
BookIt said in September 2011 it was exploring where nest to take the business and had retained merchant bank advisory first Belstone Capital.
CEO Bud Finlaw said at the time that the company was the "largest and fastest-growing, privately held OTA in the world", helping it reach what it claimed was $500 million on gross bookings during 2011.
BookIt renewed its distribution and technology agreement with Travelport in November 2013.