Dublin business travel software company Roomex has raised €3.5m in Series A funding from Frontline Ventures and investors including former Hostelworld chairman Paddy Holahan and CarTrawler CTO Bobby Healy.
Roomex’s booking platform saves companies time and money on business travel as well as providing for Duty of Care requirements for companies while staff are travelling.
The company is currently in expansion mode and has grown from 12 to 30 people in the last 18 months.
Roomex plans to hire 20 people in the coming months.
More than 550,000 hotels worldwide plug into the Roomex platform.
Businesses that use the platform include AIB, Musgrave Group, Sisk Group, Dairygold, Kepak, David Lloyd, TGI Fridays, Allianz and many more.
100pc growth for Roomex in last three years
“With our focus on business travel, since 2013, we have seen exceptional growth in bookings and corporate customers,” said Jack Donaghy, CEO of Roomex.
“We have achieved bookings growth of almost 100pc year-on-year since 2013. Our expansion into the UK market has received immediate traction and following the opening of our new office in London, we are well positioned to accelerate growth in the UK further.
“In closing this investment round with Frontline and experienced investors, this will provide the company with the strategic and financial resources to continue its aggressive growth strategy over the coming years.”
Roomex was founded in 2006 by Donaghy and CTO Karl Glennon.
“Frontline is delighted to back Roomex. Jack and Karl as founders have created a great team that is executing a fast growth disruptive strategy in a very large market,” said Shay Garvey, partner at Frontline Ventures.
“We believe they are building a very valuable company and we are happy to assist them in any way we can.”