UK / Belgium: Lighthouse, a business intelligence platform for the journey and hospitality business, has closed a $370 million progress funding [Series C funding] spherical.
The spherical was led by international funding agency by way of its Subsequent Technology Expertise III Fund. Present buyers Spectrum Fairness, F-Prime Capital, Eight Roads Ventures, and Highgate Expertise Ventures will all proceed their participation within the enterprise.
It builds on Lighthouse’s $80 million Collection B funding spherical, which was accomplished again in November 2021.
KKR’s funding has propelled Lighthouse to unicorn standing with a valuation north of €1 billion, and is reported to be the biggest capital spherical ever for a Belgian firm. To this point in 2024, there have been 12 unicorns introduced in Europe, in comparison with 69 in 2021.
The contemporary funding is ready to speed up Lighthouse’s mission to reimagine business technique for the $15 billion journey and hospitality expertise market. Proceeds from the funding will likely be used to drive continued product innovation throughout the corporate’s platform, strategic acquisitions [having bought channel manager Stardekk in February], and international growth efforts.
Lighthouse’s suite of merchandise gives income managers, business leaders, and lodging homeowners with instruments that drive incremental bookings, streamline operations, and allow a greater buyer expertise for visitors. The platform is underpinned by proprietary expertise that processes over 400 terabytes of journey and market knowledge day by day and leverages AI to ship real-time insights that allow clients to make higher and extra environment friendly operational selections.
Lighthouse CEO Sean Fitzpatrick mentioned: “We’re extraordinarily grateful to the 70,000+ hospitality suppliers, who’ve positioned their belief in Lighthouse. I couldn’t be extra energised by what we’re working in the direction of. We’re simply getting began in making hospitality knowledge and instruments extra highly effective, accessible, and inexpensive.
“This funding by KKR considerably accelerates our capability to boost our business platform by way of expanded AI capabilities and extra knowledge units, enabling us to raised serve our present clients whereas persevering with to develop throughout the hospitality market,” he added.
Stephen Shanley, companion and head of tech progress in Europe at KKR, mentioned: “Lighthouse has demonstrated an distinctive capability to assist hoteliers of all sizes – starting from international chains to impartial properties – by addressing the distinctive wants of every section. Their sturdy observe report, buyer loyalty, and confirmed capability to ship worth throughout different markets place them because the main platform on this house.
“We’re proud to assist Lighthouse in increasing its international footprint, driving continued innovation, and enhancing its market main choices,” he added.
Previously often called OTA Perception, Lighthouse gives real-time resort and brief time period rental knowledge in a single platform. Beneath its former identify, the corporate acquired Madrid-based trip rental market intelligence enterprise Clear in March 2022 in a transfer to create “the world’s most complete platform for knowledge and analytics throughout each the resort and short-term rental industries”.
