Hotel recommendation start-up Top10.com closes $8m Series B round in Balderton Capital-led deal
Backing of hotel shortlist site to fund investment in new hires and European expansion
London-based hotel shortlist specialist Top10.com has secured $8m Series B finance in a deal led by equity investment firm Balderton Capital, bringing its total funding to date to $12.4m.
Accel Partners, Idealab and Forward Partners also participated in the round to help support the hotel shortlist’s expansion plans.
Founded in 2011, Top10.com uses search technology to compare live hotel prices and hotel reviews from all the major booking sites creating a shortlist of 10 recommendations for users; claiming to offer consumers “the lowest price every time”.
It currently says its generating over $1m per month via its metasearch engine and over 3,000 bookings per month, and intends to use the latest funding to “double bookings” and rapidly increase growth.
This investment will also go towards further expansion into the European market and recruitment of new engineering staff to its 14-person team.
The news builds on its 2011 Series A round where it raised $3.5m from Accel Partners and a series of other private firms and investors.
Daniel Waterhouse, partner at Balderton Capital; who will join the Top10.com board alongside Sonali De Rycker of Accel Partners, commented:
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“We love investing in businesses where complex technical challenges are tackled behind the scenes, whilst leaving customers with a simple and satisfying experience, both online and on mobile, which leads to almost effortless transactions.”