ThestartupSpanishThe Hotels Network(THN), which specialises in software for the hospitality industry, has closed a €10 million financing round.
The operation has been led by theFrench private equity fund Elaiainvestor in companies such as Criteo and Sigfox. It has also counted on the participation of the Spanish funds Seaya Ventures and Seedrocket 4Founders.
Founded in 2015 and headquartered in Barcelona, THN has become the leading company in a new category of hotel technologyThe growth of the direct channel for hotels.
Pioneers in the use of Predictive Personalisation in the hospitality industry, THN's technology leverages personalisation techniques and machine learningThis allows hotels to offer their guests a fully personalised online experience.
Already more than 5,000 hotels in 96 countries use THN's platform to grow their direct bookings.
This rapid expansion demonstrates the effectiveness of having an innovative product that really brings value to customers. Its clients include leading hotel brands such as One&Only, Minor Hotels y Barceló Hotel Group.
Since its founding in 2015, THN has raised almost 14 million euros to date. That same year, it closed its first funding round of $250,000 (approximately €220,000), which was backed by the US fund NFX. In 2018, it raised $3.7 million in a deal led by Seaya Ventures with the participation of SeedRocket 4Founders.
After the great success of the first years, in June 2020, in the midst of the Covid-19 crisis and with the tourism sector practically at a standstill, it announced its third round of financing, raising funds of around 10 million euros.
According to Juanjo Rodriguez, CEO of THN, "we will use these resources to build unique and innovative products, which hotels need in this new context, and help the industry to recover as much as possible".