Dublin-based Roomex has raised €8 million in Series A funding
to develop its hotel booking platform for small and medium businesses and to expand
beyond Ireland and the United Kingdom.
Draper Esprit led the funding with support from existing shareholders
Frontline Ventures and Harmony Capital.
“Despite the innovation we have seen across consumer travel,
managing business travel remains a real pain point for most businesses,” says
Nicola McClafferty, investment director at Draper Esprit.
“Companies either manage the process manually or outsource
to a service-led travel agent, which is inefficient and expensive. Roomex is
transforming this market providing SMEs with a one-stop travel management
platform, delivering ease and efficiency from booking to billing.”
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Roomex says 99% of all bookings on its platform are processed
without any intervention from its staff. It currently serves more than 50,000
business travelers from companies such as Musgraves, Dairygold, Kepak,
Mitsubishi and Muller.
“We’re really only at the tip of the iceberg in terms of
what we can achieve in the global travel industry market, which is worth over
€1.3 trillion per year,” says Jack Donaghy, chief executive of Roomex.
“We’re thrilled to be working with the team at Draper Esprit
who bring with them a wealth of experience and expertise and are looking
forward to building on the strong momentum we have generated in recent years.”