TravelShark (formerly Swiftrank), the leading global online travel network, today announced that it has closed a $5 million round of financing to further accelerate the company’s already impressive revenue growth and global sales since its public launch in 2010. The investment was made by DLA Holdings, a Singapore-based private equity firm. With the recent $5 million investment, TravelShark has raised a total of $8 million to date.
“This additional funding is a nod to the dramatic expansion that TravelShark has achieved in traffic and revenues across its global network of 12,000 travel sites, as well as the tremendous opportunity we have to further accelerate growth,” said Sue Heilbronner, CEO of TravelShark. “With this financing, we will invest in sales, marketing, and new product development to leverage our new consumer-friendly brand and our traction with travel suppliers and consumers.”
More than 600 hotels, hotel brands, hospitality companies, and interactive marketing agencies in more than 20 countries now participate in TravelShark’s Featured Hotel Program to promote global visibility and generate direct booking revenues at an attractive ROI. Featured Hotel partners include Intercontinental Hotels Group, MGM Resorts, Highgate Holdings, TIG Global, and many others.
“We have increased our investment in TravelShark because we are excited about the company’s momentum, and we believe that the additional capital will fuel even more rapid growth,” said David Leppan, Chairman of DLA Holdings. “TravelShark is providing a new direct online distribution channel to hotels and other travel verticals, and with the new brand in place, the company is looking to extend its offerings beyond travel suppliers to consumers with a host of timely new products.”