Groups360, a Nashville, Tenn.-based online marketplace for meetings, received a combined $50m investment from global hospitality companies.
Backers included Accor, Hilton, IHG (InterContinental Hotels Group) and Marriott International. Each of the investors will be represented on the Board of Groups360.
The company will use the funds to enhance the GroupSync™ platform.
Founded in 2014 and led by Kemp Gallineau, President and CEO, who will continue to led the company along with Executive Chairman David Kloeppel, Groups360 provides GroupSync™, a search engine that uses proprietary matching algorithms designed specifically for meeting planners to source and book meetings and events across over 170,000 properties in 225 countries from a wide selection of brands.
Groups360 expects to deliver access to group rooms and space availability, pricing and an “instant book” capability for less-complex meetings as part of its future product roadmap.
This functionality, along with other unique features, will ensure meaningfully reduce friction for meeting and event planners. GroupSync™ will include content from a wide variety of brands and independent properties.