Given its numerous investments in startups, Concur is making a play to become one of the most influential travel tech companies on earth.
A $9 million Concur investment in Nor1 means that business travelers using Concur’s TripIt apps will be getting hotel upgrade offers from properties, including Hilton, Hyatt, Carlson Rezidor, InterContinental and Kimpton Hotels.
Concur makes a habit of investing in travel startups with its $150 million Concur Perfect Trip Fund, and this is Concur’s first investment in Nor1, although it is a Series B round for the Santa Clara, California, startup. Nor1, which was founded in 2009, has total funding to date of around $17 million.
As part of the Concur investment deal, Concur and Nor1 signed an alliance agreement, which means Concur and its TripIt unit will use Nor1’s eStandby Upgrade solution to make hotel upgrade offers to business travelers.
Nor1 plans to use the new $9 million in funding for product development and to expand its geographic reach, the company states.
“This latest round of investment is evidence of Nor1’s outstanding progress in business development and technological advancement,” according to a statement from Nor1 Co-founders Art Norins and Jason Bryant, CEO and president, respectively. “These new funds will provide an even stronger foundation as we accelerate the growth of our products and distribution.”
Concur is the most active travel company investor in travel-oriented startups, having funded buuteeq, Cleartrip, Evature, Room 77, TaxiMagic and Yapta.
Skift broke the news today that Priceline is getting into the act, as well, with Priceline Ventures.
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Photo Credit: Hilton is one of the brands tied into Nor1's system. The Hilton Kiev is pictured above.
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