UK / Belgium: Lighthouse, a business intelligence platform for the journey and hospitality trade, has closed a $370 million progress funding [Series C funding] spherical.
The spherical was led by international funding agency via its Subsequent Technology Expertise III Fund. Current 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 Sequence 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. Thus far in 2024, there have been 12 unicorns introduced in Europe, in comparison with 69 in 2021.
The contemporary funding is about to speed up Lighthouse’s mission to reimagine business technique for the $15 billion journey and hospitality know-how market. Proceeds from the funding shall be used to drive continued product innovation throughout the corporate’s platform, strategic acquisitions [having bought channel manager Stardekk in February], and international enlargement efforts.
Lighthouse’s suite of merchandise gives income managers, business leaders, and lodging house owners with instruments that drive incremental bookings, streamline operations, and allow a greater buyer expertise for visitors. The platform is underpinned by proprietary know-how that processes over 400 terabytes of journey and market information each 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 stated: “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 information and instruments extra highly effective, accessible, and inexpensive.
“This funding by KKR considerably accelerates our skill to boost our business platform via expanded AI capabilities and extra information units, enabling us to raised serve our current clients whereas persevering with to increase throughout the hospitality market,” he added.
Stephen Shanley, companion and head of tech progress in Europe at KKR, stated: “Lighthouse has demonstrated an distinctive skill to help hoteliers of all sizes – starting from international chains to impartial properties – by addressing the distinctive wants of every section. Their sturdy monitor report, buyer loyalty, and confirmed skill to ship worth throughout diverse markets place them because the main platform on this area.
“We’re proud to help Lighthouse in increasing its international footprint, driving continued innovation, and enhancing its market main choices,” he added.
Previously often known as OTA Perception, Lighthouse gives real-time lodge and quick time period rental information 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 information and analytics throughout each the lodge and short-term rental industries”.
