Triptease woos in $7 million in Series A funding
Hotel pricing and data technology company Triptease has $7 million to play with following a Series A fund-raising drive.
The latest round brings the total put it into Triptease in the region of $9 million.
The company is probably best known for its price comparison widget – a tool that works by sitting on the result pages of hotel websites, and kicks into action by showing the price for a room at the property at three OTAs.
The idea is that the consumer will see a demonstration “that the price is fair” and potentially book direct with the hotel if it sees that the price is cheaper than on the large OTAs.
CEO and co-founder Charlie Osmond says the Series A will be used to invest in its product portfolio, which also includes the Parity Analytics and Enchantment Messaging tools.
The company’s progress has not been as smooth as its founders may have hoped, with a major falling out with the mighty Booking.com taking place in late-2015.
The Priceline Group-owned hotel service ordered any property that is using the price comparison widget to remove the Booking.com rates or face legal action.
It claimed Triptease was “unlawfully accessing” data to collate the information provided on the widget, and that by showing the data, which it said was “often misleading, inaccurate and misrepresents the prices and availability being for rooms at your hotel on Booking.com”, hotels could be in breach of advertising regulations in the European Union and elsewhere around the world.
Triptease initially removed Booking.com content from the widget but says that now, two months on from the row, Booking.com’s rates are being featured on the tool once again.
The company claims to have close to 8,000 hotels using the widget, including chains ranging from Barcelo, Corinthia Hotels and Rocco Forte Hotels to Leonardo Hotels, The Address Hotels + Resorts and Red Carnation.
Kevin is senior editor and a co-founder at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about Depeche Mode - in early-2017.