Travelago, the world`s most comprehensive online video destination guide for business and leisure travel, has secured an additional $5 million from Southeast Interactive Technology Funds of North Carolina and Barnard & Co., LLC of New York.
The $5 million investment will be used for general corporate purposes, including potential content acquisitions, information technology investments, marketing support, and working capital for operations.
Travelago has recently signed agreements with several strategic partners, including Questar, Inc., CAIS, New River Technologies (Delta Airlines Vacations, Continental Vacations and coolvacations.com), Road Runner, and Ocean Drive Magazine. Travelago anticipates finalizing several additional strategic partnership and content syndication agreements in the 2nd quarter of 2001.
“Travelago is fundamentally changing the manner in which people plan travel by developing the travel information backbone of the worldwide web,” said David Blivin, Managing Director of Southeast Interactive Technology Funds. “With the continued financing from Southeast Interactive Technology Funds and Barnard & Co., along with achieving the above milestones, Travelago is now poised for growth in all areas into the future. We are ready to execute on our business plan and utilize our technology platform,” said John Bobel, Co-Chief Executive Officer, Chief Internet Strategist.