Lighthouse, a commercial intelligence platform for the travel & hospitality industry, has secured almost £300m investment.
The $370m backing, led by global investment firm KKR, equates to around £293m at today’s exchange rate.
The London firm helps to accelerate the commercial strategy for the $15 billion travel & hospitality technology market. The investment will be used to drive strategic acquisitions and global expansion.
Lighthouse says its suite of products provides revenue managers, commercial leaders and accommodation owners with tools that drive incremental bookings, streamline operations and enable a better customer experience for guests.
The platform is underpinned by proprietary technology that processes over 400 terabytes of travel and market data daily and leverages AI to deliver real-time insights that enable customers to make better and more efficient operational decisions.
Lighthouse has more than 700 employees worldwide.
“We’re extremely grateful to the 70,000+ hospitality providers, who have placed their trust in Lighthouse,” said Sean Fitzpatrick, CEO.
“I couldn’t be more energised by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable.
“This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market.”
KKR has invested approximately $23 billion in technology-focused growth companies since 2010 through its private equity and growth equity funds, and built a dedicated global team of nearly 70 investment professionals with deep technology growth equity expertise.
“Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment,” said Stephen Shanley, partner and head of tech growth in Europe at KKR.
“Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space. We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings.”
Lighthouse raised $80m Series B investment in November 2021. Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will continue their participation in the business in the latest round.