(Reuters) – Hotel Engine said on Tuesday it had raised $140 million in a funding round led by a fund advised by private equity giant Permira that valued the travel technology startup at $2.1 billion.
WHY IT’S IMPORTANT
Business travel has started to recover after a pandemic-era slump. Companies offering services to ease the processes behind bookings and logistics have been seeing strong demand.
Meanwhile, venture capital and private equity-led funding markets are also on the mend following a prolonged slump due to higher-for-longer interest rates.
CONTEXT
Hotel Engine said it is focused on simplifying business travel by providing software that saves companies time and money without the hassle of contracts, agent-assist fees or minimum…