Sojern Raises $120 Million to Fund Travel Tech Expansion
Skift Take
Travel startups are receiving remarkable investor interest this year, suggesting a bit of irrational exuberance. But in Sojern's case, fundraising can be seen as recognition of a company that's taken years to build consistent, profitable growth. Its tools could be scaled up to address a multi-billion-dollar market.
Sojern, a technology company focused on helping drive more business for travel companies, has raised $120 million in a Series D round of investment.
The San Francisco-headquartered Sojern had previously raised $42.5 million in venture capital funding.
TCV (formerly Technology Crossover Ventures), a venture capital firm that was an investor in Expedia, Airbnb, HomeAway, and TripAdvisor, led the round.
The investment comes during a time of historically large funding rounds for travel technology companies, with business travel startup TripActions raising $154 million last week, attractions ticketing startup Klook raising $200 million in August, and Oyo Hotels raising $1 billion in September.
Sojern said it has had 13 consecutive quarters of profitability. In 2017, it earned a place in Deloitte's list of fastest-growing companies for the fifth year in a row.
Does the comp
