Buuteeq attracts $10 million in funding for hotel marketing expansion
Skift Take
Concur has plenty of loose change for these types of investments, some of which will pay off by spurring innovation and tighter company-to-company relationships.
Hotel digital-marketing firm Buuteeq hopes to expand its customer base in Western Europe and Asia now that it has picked up $10 million in new funding in a round co-led by Madrona Venture Group, and travel and expense specialist Concur.
Photo courtesy of buuteeq
Buuteeq, which has $17 million in funding to date, has its customer base of hotels located primarily in North America and Latin America. The company offers hotels a suite of social, mobile and Web-based marketing solutions geared to grow guest reservations.
This latest investment by Concur follows a spate of investments, dating to 2009, in travel-technology companies, including Yapta, Room77, Cleartrip and RideCharge. Concur acquired TripIt in 2011.
It's unusual for a travel-tech company such as Concur to play such an activist investment role in other companies.
Singh says Concur seeks to "drive innovation throughout the entire travel eco-system," and this benefits Concur's corporate clients.
With the latest funding, Madrona partner Tim Porter and Singh of Concur take seats on the buuteeq board.
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