USD 9 Million in Funding Secured by TVTrip.com

Popular hotel booking website TVTrip.com has raised USD 9 million in new funding, adding to previously secured funding of $4.8 million. Previous investors Balderton Capital and Partech International were joined in this round of funding by AGF Private Equity.

The funding is classified as Series B, meaning it is the second round of preferred stock being offered by a privately held company.

TVTrip.com (www.tvtrip.com)
Created in 2007, TVTrip.com is managed by travel and software industry veterans with backgrounds from companies like Expedia, Air France, Lufthansa, and Microsoft. The website is a hotel search engine which aims to provide more than just a quick text description and price list. What makes TVTrip.com unique is their use of videos. The company creates video clips of the hotel, its rooms and amenities, and what is available in the hotel’s surrounding area. They also provide video of local landmarks and attractions which might appeal to visitors.

TVTrip.com is headquartered in Paris, France and has a current work force of 25 employees. The company boasts that it is managed by young professionals with a passion for the internet. This is bolstered by the fact that the median age of employees is only 26. Having secured such a large amount of funding in the few short years of operation, TVTrip.com is making large strides in the travel website industry.

AGF Private Equity (www.agfpe.com)
Providing asset management services and specializing in venture capital and investment funds, AGF Private Equity is a subsidiary of Allianz. It invests approximately EUR 100 million annually into private equity funds, with another EUR 1.2 billion in 90 other funds. The company specializes in discretionary mandates and dedicated private equity funds. AGF invests in over 50 companies, mainly information technology and life sciences firms, and has EUR 275 million under management.