Sector: Consumer Internet/Mobile Stage: Venture + Growth Location: San Francisco, CA
Battery uncovered a mobile-only, hotel-booking application that was positioned to capture the “same-day bookings” slice (15% and growing) of the $650B annual hotel-room market.
The trouble was, this unique travel business was buried inside a private, profitable company with no need or appetite for a venture investment.
The Battery Difference
The Battery team worked to spin the group out, collaborating with the management team to define a new strategy and make a compelling case to the existing board for a free-standing company that could attack a ripe market opportunity.
Battery led the financing effort, seeding the business and expanding the syndicate with well-regarded and well-connected investors for both the seed and series A financings.
On the board, Battery has worked side-by-side with the HT team to help drive growth and performance.
HotelTonight hit profitability in April 2016.
As of Q3 2016, HotelTonight can be found in 1646 cities across the world.