US Venture Partners led a $23 million round in HotelTonight, the last-minute mobile hotel booking app. Accel Partners, Battery Ventures and First Round Capital also joined in on the round. The financing brings HotelTonight’s total funding to more than $35 million. Rick Lewis, a GP with USVP, will also be joining the company’s board as part of the financing.
HotelTonight Secures $23 Million in Series C Round
U.S. Venture Partners Joins Existing Investors Accel, Battery and First Round Capital
SAN FRANCISCO, CA–(Jun 5, 2012) –
Core News Facts:
HotelTonight, the last-minute mobile hotel booking app, today announced that it has secured a $23 million Series C investment.
Led by U.S. Venture Partners (USVP), this round includes continued participation from Accel Partners, Battery Ventures and First Round Capital.
In addition to announcing its Series C round, HotelTonight added Rick Lewis to its board. A general partner at USVP, Lewis focuses on software and consumer Internet (social, mobile and e-commerce). He is on the board of directors of Act-On Software, ScoreBig, ThreatMetrix, Trunk Club, and Yammer. Lewis also led USVP’s investment in myYearbook.com (acquired by Quepasa).
Since launching in 2011, the company has raised $35.85 million in total venture funding.
A leader in mobile travel, HotelTonight will use the funding to:
Expand its team, building out an end-to-end mobile workforce in San Francisco with the brightest minds in development, sales, marketing and customer service.
Further its international presence, following its April launch in Canada.
Drive product innovation with a focus on improving the overall user experience, making the booking process faster and more personalized.
Continue to build the best hotel booking app available in the travel market.
HotelTonight is currently available in over 40 US cities, Toronto and Vancouver, and gives hotels the opportunity to fill unsold rooms, and provides users with exclusive access to deep discounts at high-demand hotels.
With over two million mobile downloads to date, HotelTonight is available for free from the App Store on iPhone, iPad and iPod touch, and can be downloaded here. The HotelTonight App for Android devices is available on Google Play, and can be downloaded here.
Sam Shank, CEO, HotelTonight
“Our goal at HotelTonight is to revolutionize the way people shop for travel. By building apps that allow users to easily book same-day hotel stays at great properties at incredible prices, we’re delivering on that mission. This latest round of funding will let us continue to build a top-rated product, drive growth abroad and in the US, and allow us to make moves that will establish HotelTonight as the next great brand in travel.”
Rick Lewis, Partner, U.S. Venture Partners
“We see HotelTonight as the next big disruptor and trend in travel, fundamentally changing the way people think about booking hotel stays. By delighting users with a unique value proposition and a beautiful product that’s easy and natural for anyone to use, HotelTonight is bringing an entirely new perspective to the travel industry. We are excited to join the HotelTonight team as they deliver further on this bold vision.”
HotelTonight is the only booking app that is made-for-mobile. Available for free in the App Store and on Google Play, HotelTonight offers the best pricing for last-minute deals at top hotels vetted personally by HotelTonight staff. Perfect for business travelers, leisure travelers and spontaneous locals, HotelTonight deals are currently available in over 40 destinations in the U.S. and Canada. Visit www.hoteltonight.com for more information and to download the app.
About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley-based venture capital firm, helping entrepreneurs build world-class companies since 1981. USVP focuses on early stage opportunities in sectors where the Partners have the domain expertise, operating experience and network of relationships to contribute to the success of an enterprise. Currently, the firm invests in digital communications, network systems, consumer and business services, media, semiconductors, clean technologies, biopharmaceuticals and medical devices.