Cha-Ching! $10 Million

buuteeq-raises-10-million
Photo credit: Images_of_Money on Flickr, Creative Commons License.

buuteeq is thrilled to announce we’ve raised $10 million in funding from venture capital firm Madrona Venture Group and travel solution specialist Concur. Concur and Madrona bring a wealth of talent and support to the table starting with new directors for buuteeq’s board, including Steve Singh, Concur’s CEO and Chairman, along with Madrona Partner, Tim Porter. From this moment on, buuteeq will benefit from the guidance of these outstanding directors along with the reach and expertise of a publicly traded company and a marquee financial investment firm.

We’ll use the capital to continue to produce innovative digital marketing solutions for the hospitality sector. We also intend to expand our business with new offices across the globe, with particular focus on Asia and Europe.

Clients can expect new adaptions and innovations at a feverish pace. Technology changes quickly, and we’re better prepared now than ever to continue to keep up with technology and offer modern, updated solutions to our clients. See our timeline to explore all of the major changes and upgrades to Cloud DMS our clients have enjoyed since our launch. As a high-level highlight, here are some major improvements we’ve released this year, with some sneak-peeks into the future,

Design Concierge. We revamped the look, feel and function of websites produced with Cloud DMS. Hoteliers can now choose between a number of new Blueprints and Themes to customize their website as they see fit.

New Mobile Websites. We changed the look of mobile websites to make them more dynamic and to place actionable hotel contact information right where guests expect to find it.

Booking Center Integration. buuteeq fully integrates with Booking Center’s online inventory management. Now, buuteeq customers can take full advantage of GDS integration and Booking Center’s MyPMS software.

Booking Engine. We revitalized our commission free booking engine with a brand new look and user interface, painstakingly designed to improve conversions. It is now more intuitive,  user friendly and easier to set up within BackOffice.

Mobile Booking Engine: Very soon we will announce our brand new mobile booking engine, allowing guests to book rooms with teh swipe of a finger! Details coming soon.

Tim Porter, a managing director at Madrona Venture Group, says this about buuteeq:

“buuteeq’s digital marketing solution solves a very tangible problem. We talked to everyone from CTOs at large hotels to owner-operated B&Bs, and they are all unhappy with their current marketing solutions. buuteeq has struck a chord with customers, and we are looking forward to helping buuteeq’s team as they take the business to the next level.”

About Madrona Venture Group

Madrona has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages nearly $1 billion and was an early investor in companies such as Amazon.com, Farecast.com, Isilon Systems, Sharebuilder, and World Wide Packets. www.madrona.com

About Concur

Concur is the world’s leading provider of on-demand Employee Spend Management services. Trusted by thousands of organizations to reach millions of employees, Concur’s award-winning solutions streamline business travel and expense reporting, and improve invoice processing – delivering rapid ROI by helping companies increase efficiency, control employee spend and drive down operational costs. www.concur.com

A full list of investors can be found here.

About Brandon Dennis

Brandon M. Dennis is the Technical Marketing Manager at buuteeq, the digital marketing system for hotels. He manages buuteeq’s SEO, paid media channels, contributes content, and writes for the company blog. You can connect with him on Twitter @oxhorn.

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