UK / Belgium: Lighthouse, a commercial intelligence platform for the travel and hospitality industry, has closed a $370 million growth investment [Series C funding] round.
The round was led by global investment firm through its Next Generation Technology III Fund. Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will all continue their participation in the business.
It builds on Lighthouse’s $80 million Series B investment round, which was completed back in November 2021.
KKR’s investment has propelled Lighthouse to unicorn status with a valuation north of €1 billion, and is reported to be the largest capital round ever for a Belgian company. So far in 2024, there have been 12 unicorns announced in Europe, compared to 69 in 2021.
The fresh funding is set to accelerate Lighthouse’s mission to reimagine commercial strategy for the $15 billion travel and hospitality technology market. Proceeds from the investment will be used to drive continued product innovation across the company’s platform, strategic acquisitions [having bought channel manager Stardekk in February], and global expansion efforts.
Lighthouse’s suite of products provides revenue managers, commercial leaders, and accommodation owners with tools that drive incremental bookings, streamline operations, and enable a better customer experience for guests. The platform is underpinned by proprietary technology that processes over 400 terabytes of travel and market data daily and leverages AI to deliver real-time insights that enable customers to make better and more efficient operational decisions.
Lighthouse CEO Sean Fitzpatrick said: “We’re extremely grateful to the 70,000+ hospitality providers, who have placed their trust in Lighthouse. I couldn’t be more energised by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable.
“This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market,” he added.
Stephen Shanley, partner and head of tech growth in Europe at KKR, said: “Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment. Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space.
“We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings,” he added.
Formerly known as OTA Insight, Lighthouse provides real-time hotel and short term rental data in a single platform. Under its former name, the company acquired Madrid-based vacation rental market intelligence business Transparent in March 2022 in a move to create “the world’s most comprehensive platform for data and analytics across both the hotel and short-term rental industries”.
