Bird & Bird has advised longstanding client, OTA Insight, a global leader in cloud-based hospitality business intelligence, on its $80 million Series B financing round led by Spectrum Equity. Spectrum Equity joins existing OTA Insight investors Eight Roads, F-Prime Capital and Highgate Technology Ventures.
Founded in 2012, OTA Insight is a leading cloud-based data intelligence platform for the hospitality industry. Providing hoteliers with revenue management solutions, OTA Insight's technology is now used by over 55,000 hotel operators in 185 countries.
The platform has gained the attention of investors as it has adapted to changing demands due to the pandemic with the plan to use this funding to drive more business in new and existing jurisdictions in what is still considered an untapped market.
The Bird & Bird team advised on all aspects of the funding round and was led by Corporate partner, Geraint Lloyd, together with associates Adam Meisels (Corporate) Arif Saleem (Corporate), Francesca Mansell (Corporate) and Stuart Rose (Employee Incentives & Benefits), all UK-based.
Sean Fitzpatrick, CEO at OTA Insight says: “As always it was a pleasure to work with the Bird & Bird team. They were extremely efficient and greatly assisted us in completing the transaction in a very short timeframe.”
Matthias Geeroms, co-founder and CFO at OTA Insight adds: “We were delighted to be supported by Bird & Bird once again as we continue our journey to build a world-class company to serve the changing needs of the industry.”
Geraint Lloyd, Corporate partner at Bird & Bird comments: “We are proud to have assisted OTA Insight on their Series B funding round, which was supported by the company's high-profile group of investors. The funding provides an exciting opportunity for further expansion and is a prime example of Bird & Bird’s strong capabilities in the Venture Capital space and Retail & Consumer sector.”