SiteMinder, an online hotel distribution and connectivity platform, raised US$30m in funding.
The round was led by Palo Alto based Technology Crossover Ventures (TCV). In conjunction with the funding, David Yuan, TCV General Partner, and Erik Blachford, TCV Venture Partner and former CEO of Expedia, will join the SiteMinder Board.
The company intends to use the funds to expand in the American, European and Asian markets and develop new products.
Founded in 2006 by Mike Ford, CEO, SiteMinder offers cloud-based distribution products – including a channel manager, booking engine, PMS/CRS integration and GDS connection tools, for hotels to increase online revenue, streamline business processes and decrease operational costs.
The company has offices in Bangkok, Cape Town, Dallas, London and Sydney, has more than 11,000 customers in more than 105 countries.
FinSMEs
14/01/2013