Holiday comparison and deals platform Icelolly will boost its marketing strategy following a £2 million venture debt financing investment from Silicon Valley Bank.
The Leeds, U.K.-based travel website, which was founded in 2005 and owned by Palatine Private Equity, has more than 20 million visitors each year.
“Silicon Valley Bank has supported our growth plans and vision and we are pleased to announce this facility today to help make Icelolly.com the best loved brand for U.K. holidaymakers,” says Icelolly CEO Richard Singer, who is also the former president of Travelzoo.
The company says the funds will be used to fuel growth through its sales and marketing activities, as well as its ongoing brand awareness campaigns.
Subscribe to our newsletter below
Icelolly ushered in a new multichannel marketing initiative on December 26 (Boxing Day) aimed at showing consumers how easy it is to compare holiday experiences and find a great deal.
Dubbed its “biggest ever campaign,” Icelolly has produced a trio of 30-second television ads, with most of them airing on the ITV Network, and has extended the campaign across digital and social channels.
Funds will also be invested to grow the Icelolly team, which recently brought on Simon Lloyd as CMO and Elliot Muscant as a non-executive advisor.
Says Richard Faulkner, managing director at Silicon Valley Bank’s U.K. branch: “We’ve enjoyed working with Icelolly.com and it has been great to be able to support them on this impressive journey of rapid growth and brand recognition.
“We look forward to a continued partnership with Richard and the rest of the Icelolly team.”