Dublin-headquartered firm Roomex raises €8m to develop global hotel booking platform

Roomex has raised €8m series in funding as it looks to develop its booking platform and expand internationally.

The Series A funding round was led by Draper Esprit, with support from existing shareholders Frontline Ventures and Harmony Capital

In 2016, Dublin-headquartered travel software firm raised €2.5m in a funding round led by Frontline Ventures.

Co-founded by Jack Donaghy (CEO) and Karl Glennon (CTO), Roomex allows businesses to book hotel rooms globally through its platform.

It allows its clients to save time and money by centralising all bookings and invoices in one account.

Nicola McClafferty, ex entrepreneur and Draper Esprit’s Investment Director, based in Dublin, will join the board.

“Despite the innovation we have seen across consumer travel, managing business travel remains a real pain point for most businesses. Companies either manage the process manually or outsource to a service-led travel agent which is inefficient and expensive,” she said.

“Roomex is transforming this market providing SME’s with a one-stop travel management platform, delivering ease and efficiency from booking to billing.”

Roomex, which initially focused on the Irish market, has more than doubled the size of its workforce in the past 18 months as the business scales up.

The platform, which is now serving over 50,000 business travellers from across the UK and Ireland, has now grown to cover global travel markets and customers now include Musgraves, Dairygold, Kepak, Mitsubishi and Muller.

Roomex was named as one of the fastest growing technology companies in Ireland last year, ranking 20 in the 2017 Deloitte Technology Fast 50.

It was the third consecutive year that the global hotel booking platform for business travel was listed in the ‘Fast 50’.

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