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With the investment, Concur continues on its forward-looking funding binge, investing in startups that are doing something different and are of interest to business travelers.
Dining reservations startup Table8, which offers last-minute reservations at otherwise booked-up restaurants for a fee, attracted a $4.6 million funding round to expand its beta from San Francisco into cities such as New York, Chicago, and London.
Table8 co-founder Pete Goettner says the round was led by angel investors with participation by Concur Technologies, which has previously invested in 10 other travel-oriented startups as part of its $150 million Perfect Trip Fund.
John Torrey, Concur’s executive vice president, corporate strategy, said dining content is a key component of “the perfect trip,” and Concur would look to make such capabilities part of the Concur platform.
Table8, a unit of Daemonic Labs, enables diners to make reservations at the “finest restaurants” for a fee when there may be no availability through other reservations platforms.
For example, last night a user could book a reservation for May 9 at 7:30 p.m. at Acquerello restaurant in San Francisco for a $20 fee while there was no availability at the same time through OpenTable.
Table8, which has a website, as well as iOS and Android apps, launched a beta last month in a limited number of San Francisco restaurants, and hopes to expand with the funding infusion.
Goettner, who previously was co-founder and CEO of DigitalThink, co-founded Table8 in 2013 with Santosh Jayaram, described as “the first business operations hire at Twitter.” The new funding brings Table8’s total funding to $5.4 million.
Since launching its Perfect Trip Funding in November 2012, Concur has similarly invested in startups such as ClearTrip, Yapta, Room77, TaxiMagic, buuteeq, Expert Virtual Agent, nor1 and Trover, for example.
In other news, IBM agreed to market Concur’s travel and expense management solutions to IBM’s Global Process Service and Business Process Outsourcing clients.