Lighthouse, analytics provider for the hotel industry, raises $370 million at a valuation of $1 billion.
Another sign of growth in the tourism industry has been observed: a significant funding round completed by one of the B2B startups operating in this sector. Lighthouse, a company specializing in data analytics...
Lighthouse, a data analytics platform geared towards hotels and other entities in the hospitality sector, has recently closed a Series C funding round totaling $370 million. This financing, led by KKR, has propelled Lighthouse to surpass a valuation of $1 billion. The company has indicated that it will allocate these funds to the creation of more datasets, analytical tools, and artificial intelligence functionalities. Additionally, it may leverage this capital injection for acquisitions and to drive its expansion: to date, Lighthouse has completed four acquisitions, the most recent of which was Stardekk earlier this year, providing it with comprehensive software for reservation management.
With this $370 million round, Lighthouse positions itself as one of the most relevant startups in London and one of the most significant investments in the travel sector so far this year. This milestone is particularly noteworthy in the current context of the startup ecosystem in Europe, which is facing slower activity in various tech subsectors, as well as geopolitical uncertainties and weak economic growth.
The global travel market, valued at approximately $15 trillion annually, is the focal point for Lighthouse. The company has focused on providing business intelligence through the use of advanced technologies such as artificial intelligence, highlighting the opportunities that still exist for data-driven companies. Its tools are not directly related to booking or personnel management but provide analysis and insights. Lighthouse processes 400 terabytes of travel and market data daily, using artificial intelligence to deliver insights to its clients. Currently, its products are in use by over 70,000 hospitality service providers, including well-known brands such as Holiday Inn, Radisson, and NH Hotel Group.
The funding round reflects the growing demand from the hospitality sector for tools that enhance their ability to price effectively and provide better services to their clients, especially at a time when travelers have more options and ways to find and book hotels. Sean Fitzpatrick, CEO of Lighthouse, expressed his excitement about the company's future, stating that they are just at the beginning of their journey to make data and hospitality tools more powerful, accessible, and affordable.