TourRadar, the most successful Australian travel company you’ve never heard of, announced overnight that it has raised a further USD50 million, money that it will use to grow staff and improve technology – with a major focus on mobile and personalisation.
So what is TourRadar? Founded by Australian brothers Travis and Shawn Pittman in 2010, TourRadar is the largest OTA in the multi-day touring market, which it estimates to be worth $55 billion.
It operates both a B2C and B2B model, working with 600+ operators in Europe, Asia, the Americas, Australia and New Zealand, offering tech, booking, marketing and distribution products and services. Brands it counts as customers include G Adventures, Contiki, and Collette.
The $50m Series C funding round was led by TCV (which has also backed Airbnb, Expeida, Netflix, HomeAway and SiteMinder) with participation from existing investors Cherry Ventures, Endeit Capital, Hoxton Ventures and Speedinvest.
As part of the funding arrangement, Erik Blachford, a venture partner at TCV, has joined TourRadar’s supervisory board.
“The experience and knowledge in the online travel sector that Erik Blachford and TCV bring to the table is exactly what we were looking for as we embark on this exciting next chapter at TourRadar,” said Travis Pittman, CEO and co-founder at TourRadar. “This stage will well and truly bring our vision to life and we’re excited to do this with their guidance.”
“Multi-day tours are the last frontier in online travel,” said Blachford. “TourRadar has staked a claim, and I am looking forward to helping Travis and the team realize their vision.”
TourRadar has offices in Vienna, Austria, Toronto, Canada, and Brisbane, Australia.