Room 77 Secures $10.5M in Series B Financing
Room 77, a hotel search engine that reveal room-specific details, has secured $10.5m in Series B financing.
The round was led by General Catalyst Partners, with participation from PAR Capital Management, Sutter Hill Ventures, Felicis Ventures, Rich Barton, founder of Expedia and co-founder of Zillow, and Erik Blachford, former CEO of IAC Travel.
This investment brings the total amount raised by the company to date to $13.5m.
Officially launched in public beta in February, Room 77 is developing an innovative search platform that provides travelers with details such as square footage, bed type, and distance from elevator. Its patent-pending technologies also rank rooms based on travelers preferences and simulate the actual view from the window of each room. To date, the company has indexed more than 500,000 hotel rooms in 2,500 properties in 24 markets (Atlanta, Boston, Chicago, Denver, Honolulu, Las Vegas, Los Angeles, London (UK), Maui, Miami, Minneapolis, New Orleans, New York, Orange County, Orlando, Palm Springs, Philadelphia, Phoenix/Scottsdale, San Diego, San Francisco, San Jose/Silicon Valley, Seattle, Vancouver (BC), and Washington, DC.).
Room 77 intends to use the funds to increase its proprietary index of hotel rooms globally and expand its core search platform to help travelers shop and book hotels online and via mobile devices (it is available on iPhone/iPad/iPod while an Android app is expected to be released this summer).
Led by founder and chairman Brad Gerstner, the company previously raised funding from Bob Pittman, founder of MTV, and Hugh Crean, former president and CEO of Farecast, among others.