Secret Escapes reaches £10m valuation thanks to fresh funding
Company plans to increase hotel listings and boost membership rates
Secret Escapes, the luxury travel offer site, has secured funding from a group of angel investors, including Atlas and Octopus Ventures, to boost its offerings.
Founded in 2010 by Tom Valentine, Alex Saint, Troy Collins and Andrew Bredon, Secret Escapes provides UK customers up to 70% off hand-picked luxury and boutique hotels.
According to the company, which first began trading in January of this year, the investment from Atlas Ventures, Octopus and other angels will be used to drive membership and marketing to increase the range of leading hotels it works with.
Tom Valentine, managing director of Secret Escapes, said: “We are seeing real growth in the numbers of members coming to our site as they recognise the value we are bring to the travel market. This new investment will enable us to broaden the number of hotels we are working with, and as a result bring even more luxurious offers to our members.”
The new investment brings the value of the company to an estimated £10m.
William Reeve, non-executive director of Secret Escapes, whose previous e-commerce investments include successful sites such as Zoopla, LOVEFiLM, Graze, Paddypower and TrueKnowledge, said: “We’re backing a strong team with successful e-commerce experience to bring the luxury flash sales model to the UK. “We’re delighted to be backed by some of the biggest names in start-up investment; it’s a great show of confidence in the model.”