the leading provider of second generation electronic travel management solutions today announced that it has received £1,2 million in second round financing from Entrepreneur Venture and existing investor SEEFT Ventures.
Chausson Finance were advisor to Traveldoo on the deal. To date the company has raised £2,5 million in total.
This new round of funding gives Traveldoo the resources to further expand its European business and strengthen its technology lead over competitors.
Founded in March 2000, Traveldoo offers software solutions that enable enterprises to connect, transact and collaborate with their travel suppliers and travel agencies in a more efficient manner. Traveldoo`s flagship solution, Traveldoo ShopSite(tm), provides an integrated solution for online business travel planning and booking, dynamic policy management, travel supplier relationship management and travel spending intelligence.
“Our technology and our ability to deliver successful projects are proven. Our solutions have been deployed by very large organisations in different European countries” said Nabih El Aroussi, President, Traveldoo. “Traveldoo is ideally positioned to take advantage of opportunities in Europe where the market is gaining momentum”.
“Strong management, great technology platform, relevant strategic positioning. We are convinced that Traveldoo has the potential to become the leading European software provider for online business travel management”, said Frederic Zablocki Partner of Entrepreneur Venture.
“Since our original investment in 2000, Traveldoo has clearly demonstrated it has great technology vision and sector expertise. The new funding will help the company to further expand its sales and marketing operations”, added Regis Saleur, Partner of SEEFT Ventures.