Dublin, Ireland 28 September 2016
Roomex, the global hotel booking platform for business travel, announced today that it has closed €3.5 million in Series A funding, led by Frontline Ventures and investors Paddy Holahan and Bobby Healy.
The Roomex platform saves business travellers time and money on hotel spend. The unique technology allows for faster booking and single invoicing, which is friendlier to medium and large businesses. Companies get easy access to live reporting and can easily implement policy and control as well as fulfilling Duty of Care requirements, knowing where staff are at all times on business travel. There are currently over 550,000 hotels worldwide on the Roomex platform.
With offices in Dublin and London, clients include AIB, Musgrave Group, Sisk Group, Dairygold, Kepak, David Lloyd Leisure, TGI Fridays, Allianz and many more.
Roomex has raised a €3.5m Series A funding round from investors including active UK enterprise software fund Frontline Ventures, former Hostelworld Chairman Paddy Holahan and CarTrawler CTO Bobby Healy. The Series A capital will be used to accelerate growth through increased sales and marketing as well as further developing the technology platform.
"We're thrilled to bring in Frontline's experience and very excited to be working alongside senior industry experts like Paddy Holahan and Bobby Healy." said Jack Donaghy, CEO of Roomex. "With our focus on business travel, since 2013, we have seen exceptional growth in bookings and corporate customers. We have achieved bookings growth of almost 100% year on year since 2013. Our expansion into the UK market has received immediate traction and following the opening of our new office in London we are well positioned to accelerate growth in the UK further. In closing this investment round with Frontline and experienced investors, this will provide the company with the strategic and financial resources to continue its aggressive growth strategy over the coming years."
Shay Garvey, partner of Frontline Ventures, said, "Frontline is delighted to back Roomex - Jack and Karl as founders have created a great team that is executing a fast growth disruptive strategy in a very large market. We believe they are building a very valuable company and we are happy to assist them in any way we can."