Hotel Engine, a bookings management platform for corporate lodging, has secured $65 million in a Series B round.
The investment, which was led by existing investor Telescope Partners with participation from Blackstone, values the company at $1.3 billion.
Hotel Engine, which launched in 2015, previously raised $16 million in Series A funding in 2019.
Elia Wallen, founder and CEO of Hotel Engine, says: "This capital infusion will allow us to innovate faster, grow our global network of lodging partners, and add more world-class talent to our team.”
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Mickey Arabelovic, Telescope’s managing partner and founder, says:
“Since our investment in late 2019, we've worked closely with Elia and the Hotel Engine team, and are consistently impressed by their passion, tenacity and singular focus on business lodging. There is no other company that delivers a friction-less, easy-to-use solution for travelers, and they're just getting started.”
According to a release, Hotel Engine has experienced growth during the pandemic, “breaking company records monthly” and is profitable.
The company recently added short-term rental specialist Sonder to its inventory.