The transaction also sees TCV general partner Woody Marshall joining Sojern’s Board of Directors. The deal will bring TCV’s experience in the travel and martech spaces from investments in travel technology giants including Airbnb, Expedia, HomeAway, TripAdvisor, SiteMinder, ExactTarget, Act-On, and Ariba.
Travel marketing company Sojern announced yesterday (November 13) that it had secured a US$120 million financing round led by growth equity firm TCV to “accelerate solutions developments for its clients”.
This comes on the back of the company’s strong growth as it marks 13 consecutive quarters of profitability.
The transaction also sees TCV general partner Woody Marshall joining Sojern’s Board of Directors. The deal will bring TCV’s experience in the travel and martech spaces from investments in travel technology giants including Airbnb, Expedia, HomeAway, TripAdvisor, SiteMinder, ExactTarget, Act-On, and Ariba.
The company acquired Facebook and Instagram Marketing Partner Adphorus in late 2017, testing into connected TV, and making its real-time audiences available to top clients via a programmatic in-house offering.
“We’ve used those insights to drive US$13 billion in bookings so far, with the goal of transforming digital marketing into digital distribution,” said Sojern CEO Mark Rabe.
“With this new partnership with TCV, we’re excited to continue driving efficiency into an estimated US$100 billion being spent by travel brands around the world,” said Rabe.
Sojern’s clients include 93% of the world’s Fortune 500 travel companies and thousands of independent hotel properties and local tourism providers.