Roomex raises €8m in Series A round
16 August 2018 | 0
Travel booking platform developer Roomex has raised €8 million following a Series A funding round led by Draper Esprit.
Co-founded by CEO Jack Donaghy and CTO Karl Glennon, Roomex allows businesses to book hotel rooms globally, enabling its clients to save time and money by centralising all bookings and invoices in one account.
Focused initially on Ireland, Roomex has grown to cover global travel markets and customers now include Musgraves, Dairygold, Kepak, Mitsubishi and Muller.
The global corporate travel market is currently worth over a €1 trillion a year, yet the process of booking travel remains manual, time consuming and expensive for SMEs.
Traditionally dominated by consumer platforms or service-led travel management companies, travellers are forced to keep receipts and submit expenses, bookers spend hours searching for the best corporate rates, while accounts teams spend hours reconciling expenses to credit cards.
Roomex’ provides SMEs with an automated, frictionless way to manage their corporate travel – from booking to billing. 99% of all bookings are processed without any human intervention. The company is serves more than 50,000 business travellers from across the UK and Ireland.
“We’re really only at the tip of the iceberg in terms of what we can achieve in the global travel industry market,” said Donaghy.
“We’re thrilled to be working with the team at Draper Esprit who bring with them a wealth of experience and expertise and are looking forward to building on the strong momentum we have generated in recent years.”