Topics
Latest
AI
Amazon
Image Credits:Nitat Termmee(opens in a new window)/ Getty Images
Apps
Biotech & Health
mood
Image Credits:Nitat Termmee(opens in a new window)/ Getty Images
Cloud Computing
Commerce
Crypto
initiative
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
societal
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
We have yet another mansion of the boom in the travel industry : a major fundraise by one of the B2B startups serving the outer space . Lighthouse , a data analytics chopine for hotel and others in the cordial reception diligence , has close a Series C round of $ 370 million . The KKR - run round catapults Lighthouse to a valuation of over $ 1 billion .
Lighthouse said it will utilise the backing to persist in building more datasets , analytics peter , and AI functionality . It may also be using this large capital shot for skill to expand its business : The company has made four learning to engagement . One of those , Stardekk , go on in the beginning this class , contribute Lighthouse an all - in - one hotel computer software for grapple reservations and more .
At $ 370 million , the daily round is one of the biggest for a inauguration headquartered in London , as well as one of the biggest rounds for the travel sector this class .
For those tracking how Europe ’s startup ecosystem is performing at the moment , Lighthouse ’s fundraising cartroad record is instructive : The caller raised $ 80 million in 2021 , when fundraising for inauguration was at its peak . This new troll could be seen as an affirmation from investors that the startup ’s been checking the right boxes in the last few year .
Startups in Europe have been grappling with slow body process in a number of tech subsectors , geopolitical tumult , and sluggish economic growth . Lighthouse caters to the global travel market , presently estimated to be worth some $ 15 trillion annually , and its focal point on providing clientele intelligence while apply newer technology like AI underscores how data point - driven companies bear on to see opportunities .
The company ’s core position of tools are not directly touch to taking booking or handle faculty and accounts per se . Instead , it provides patronage intelligence service , specifically analytics and insights . Lighthouse say it scranch 400 TB of locomotion and market data day by day , and “ leverages AI ” to provide perceptiveness to customer . Its merchandise point large hotel chains and others focusing on diminished operation .
The startup say its pecker are used by more than 70,000 hospitality supplier , which include big name like Holiday Inn , Radisson , and NH Hotel Group .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
The stave is a testament to the hotel sector ’s requirement for good tooling to improve their pricing and overall offering to customers — specially authoritative at a time travelers when have more alternative than ever before , and more ways of finding and booking hotels .
“ We ’re just getting started in making hospitality information and dick more hefty , accessible , and low-cost , ” said Sean Fitzpatrick , CEO of Lighthouse , in a statement . “ I could n’t be more energized by what we ’re working towards . ” TechCrunch is hopefully speak with Fitzpatrick later today to hear more .
The company ’s previous round saw participation from Spectrum Equity , F - Prime Capital , Eight Roads Ventures , and Highgate Technology Ventures . All of these investor are also put in this latest Series C.
