Hotel Engine Raises $65M in Series B Round

Hotel Engine has raised $65 million in a Series B round, the company announced. The investment values the business travel hotel booking and management platform at $1.3 billion, up nearly ninefold from when it raised $16 million two years ago in a Series A round.

“This capital infusion will allow us to innovate faster, grow our global network of lodging partners, and add more world-class talent to our team,” said Hotel Engine founder and CEO Elia Wallen in a statement.

The company launched in 2015. In October, it began to offer short-term rental provider Sonder’s inventory. Hotel Engine now includes more than 550,000 members across 40,000 businesses and 700,000 hotels in over 185 countries, according to the company.

Existing investor Telescope Partners once again led the round, with participation from funds managed by Blackstone.

Donna M. Airoldi  www.businesstravelnews.com