Sojern Secures $10 Million in Series C Funding (Dec. 17, 2013)

Summary

Press release dated Dec. 17, 2013 announcing that Sojern raised $10 million in Series C funding led by Triangle Peak Partners, with full participation from existing investors Norwest Venture Partners, Trident Capital, Focus Ventures and Industry Ventures. It says Sojern was named the fastest-growing travel technology company on Deloitte's 2013 Fast 500 list, with 3,811% fiscal year revenue growth between 2008 and 2012, and opened an EMEA headquarters in London in Q1. CEO Mark Rabe is quoted on plans to serve 500+ travel customers, Curtis Atkisson is appointed Chief Financial Officer, and Dain DeGroff, President of Triangle Peak Partners, is quoted.

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Sojern Secures $10 Million in Series C Funding Led by Triangle Peak Partners

SAN FRANCISCO, Dec. 17, 2013 /PRNewswire/ — Sojern , the world’s leading traveler engagement platform, today announced that it has raised $10 million in Series C funding. Triangle Peak Partners led the round with the full participation of existing investors: Norwest Venture Partners, Trident Capital, Focus Ventures and Industry Ventures.

Over the last few years, Sojern’s rapid growth has been fueled by the increasing demand for effective, data-driven marketing solutions within the travel space. In recognition of its momentum, Sojern was recently named the fastest-growing travel technology company on Deloitte’s 2013 Fast 500 list, with a 3,811% fiscal year revenue growth between 2008 and 2012. On the heels of this growth the company expanded internationally in 2013, opening its EMEA headquarters in London in Q1.

The company plans to use the recent investment to continue to innovate and scale its industry-leading Sojern Traveler Platform which is powered by machine-learning technology, enhanced programmatic buying (real-time bidding), and data-derived insights. Sojern will use the funds to aggressively recruit commercial, engineering and data science talent to develop even more granular, self-optimized and intelligent targeting solutions.

“We are pleased with the clear market validation and excited to accelerate our growth further with fresh capital,” said Mark Rabe, CEO at Sojern. “Simply put, we plan to continue delivering world class solutions to our 500+ travel customers.”

In related news, Sojern has appointed Curtis Atkisson, an industry veteran with more than 20 years of travel and finance experience, as Chief Financial Officer. Atkisson was previously the co-founder of Affinity Labs and supported its successful exit to Monster in 2008. Prior to that, he held multiple finance positions with United Airlines, Ameniti Travel and Chase Manhattan Bank.

“We are excited to partner with Sojern,” said Dain DeGroff, President of Triangle Peak Partners. “They have a great management team that has executed very well and is pursuing strong growth opportunities. We were attracted to their ability to use their very large amounts of data to deliver unique performance based advertising solutions to their customers.”

About Sojern

Headquartered in San Francisco with key offices in New York, Omaha and London, Sojern is the world’s leading data-driven traveler engagement platform that delivers the most efficient marketing, distribution, monetization and insight solutions at scale. Since 2007, the company has helped top travel brands like American Airlines, American Express, Avis|Budget Group, Choice, Enterprise, Hertz, Hilton, Hyatt, IHG, Las Vegas Tourism, Marriott, Microsoft, Samsonite, Starwood, United, and US Airways more efficiently and meaningfully engage with travelers to drive conversions, loyalty and monetization.

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