Cruise411.com has received $7 million in Series B equity financing from TL Ventures, the Wayne, PA-based venture capital firm with over $1.4 billion under management.
TL Ventures also served as the initial investor for Cruise411.com, providing $3.75 million in equity financing in the company`s first round of investment in November 1999.
Proceeds from this round of financing will be used to fund the expansion of the company`s marketing and technology capabilities.
The investment underscores the viability of the online travel and cruise industries, as well as Cruise411.com`s ability to capture growing consumer acceptance for booking cruise and travel online.
Cruise411.com`s BookItNow! proprietary reservation engine provides consumers with the capability and information necessary to book their own cruise vacation seamlessly over the Internet. Cruise411.com`s unbiased database gives consumers real-time, comparative access to more than 10,000 cruises worldwide. The easy-to-use, eight-step process allows consumers to search by date, destination, and/or cruise line, compare up to four options and then book the reservation online.
Cruise411.com`s status as the leader in cruise travel service was confirmed when Forbes magazine ranked it as a “Forbes Favorite,” the highest in the Travel-Cruises category of its Spring 2001 Forbes “Best of the Web” issue.