CarTrawler, a Dublin, Ireland-based provider of online car rental distribution systems, has received an equity investment of undisclosed amount from UK mid-market private equity firm ECI Partners.
CarTrawler plans to use the proceeds from the investment to continue to grow organically and through acquisition.
In conjunction with the funding, the company named Mike McGearty, former COO, as CEO. He will lead the next stage of the business’s development. Bobby Healy will continue as CTO and Niall Turley will remain Director of Supply.
In addition, Chris Watt, Director at ECI, will join the company’s board along with new Chairman Richard Prosser.
Founded in 2004 by Greg and Niall Turley, CarTrawler uses its technology to link consumers with car rental suppliers directly and through third-party websites. The platform is designed to:
– enable consumers to obtain real-time car rental prices and availability from over 550 car rental suppliers globally,
– allow distribution partners (e.g. airlines, online travel agents) to improve customer conversion and drive revenues; as well as
– provide suppliers with global distribution.
The company currently employs 90 people, mainly based in Dublin, Ireland, and operates an overseas subisdiary (CarTrawler Americas) in Seattle, USA, which is led by CEO Mike Flory.