Triptease raises $9 million for its push into the Asian market

London-based Triptease has raised $9 million in a Series B round led by BGF Ventures with participation from Notion Capital and Episode 1 Ventures.

Triptease is a travel tech startup offering a SaaS solution to hotels to help them increase their direct booking revenue rather than use online travel agencies (OTAs) like Booking.com.

Charlie Osmond, founder of Triptease, said the platform’s aims are to cut out the middlemen and drive more revenue to hotels and gather more valuable data about guests. It claims that independent hotels that have used its software have seen their direct bookings increase by 20%. The company works with more than 17,000 hotels, both independent operations and hotel groups, in Europe, the US, and Asia Pacific.

“Savvy consumers have also started to realise hotels prefer guests who book direct. Room upgrades and special incentives have become commonplace benefits for booking direct,” said Osmond.

Triptease runs a software licensing business model, charging a flat rate to hotels based on the number of rooms. The company declined to share any revenue figures but stated that its revenue has “grown by 1000% over the last six quarters.”

According to its announcement, Triptease will invest the new funds in further product development and expanding into the Asian market. It will soon open an office in Singapore as well as double staff numbers in its London and New York offices.

“Now it’s time to expand the software to Asian hotels, to make this a truly global product,” said Rory Sterling, partner at lead investor BGF Ventures.