Hotel search engine and booking site, Room 77, has a lot to celebrate this new year as the startup raised nearly $30 million in venture capital funding. The news was broken after details of a regulatory filing became public. The funding round included Expedia which was expected because early investors in the San Francisco-based startup include Expedia founder Rich Barton and other former Expedia executives like Lloyd Frink and Erik Blachford. The co-founder of Hotwire and a current board member of Room 77, Spencer Rascof, also participated. Sutter Hill’s Jim White has been added to the board of directors.
The filing did not talk about any new investors but from the amount that was raised it seems possible that there were new entrants into the meta search site. Previously the hotel booking site was able to raised $13.5 million thanks to investors like Sutter Hill Ventures, Felicis Ventures, PAR Capital Management, Concur Technologies (CNQR) and General Catalyst Partners.
Room 77 has peaked the interest of investors because the site has become very good at providing very detailed information about available room. The site also offers visual tours of thousands rooms along with a concierge service. The assistance lets users pick out a room that is the best fit according to the information a user enters. Room 77 claims to be the most advanced hotel booking and search service in the world and offers more than 200,000 hotel rooms globally.
Source: CNN Money
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