Significant investment news in travel technology with Rearden Commerce announcing $133 million funding round, with two of its earlier investors coming back.
Returning for the latest round are American Express and JP Morgan & Chase, both of which participated in a previous injection of capital in 2008 to the tune of $100 million.
Also joining in the latest round is banking giant Citi.
The $133 million announced today brings the total amount invested in Rearden to $353 million, with another $120 million investment also ploughed into the company before now (details to follow).
The round will be used for "high-growth initiatives", Rearden says, including acquisitions, debt repayment and to provide working capital.
The company claims is has tripled its "distribution channel penetration" to 60 million+ customers in the past 12 months and seen a four-fold increase to its merchant network to over 1.2 million.
Central to the Rearden system is its Deem product, a platform which allows corporations to manage business functions including travel, procurement and expense management.
CEO and founder Patrick Grady says:
"We are energized by the unique capabilities that each of our partners brings to the Deem ecosystem. This is a group of some of the world’s most successful leaders in commerce for consumers and merchants alike, and we believe that the combination of their assets and the Deem platform are indeed transformational."
Coinciding with the investment news, and illustrating the acquisition element of the investment statements, is confirmation that Rearden has also bought social buying service HomeRun for an undisclosed fee.
HomeRun is best known for its OfferEngine platform which powers group buying services on a number of consumer websites in the US.
The company will be integrated into the mothership shortly, with CEO Brad Brodigan reporting to Grady as its new president of merchant services.