Funding helps continued growth of AI and enterprise intelligence capabilities for over 70,000 hospitality properties globally
LONDON–(BUSINESS WIRE)–Lighthouse, the main industrial intelligence platform for the journey & hospitality {industry}, at present introduced an roughly $370 million progress funding led by international funding agency, KKR. This funding accelerates Lighthouse’s mission to reimagine industrial technique for the $15 billion journey & hospitality know-how market. Proceeds from the funding shall be used to drive continued product innovation throughout Lighthouse’s platform, strategic acquisitions, and international growth efforts.
Lighthouse’s suite of merchandise gives income managers, industrial leaders, and lodging homeowners with easy-to-use instruments that drive incremental bookings, streamline operations, and allow a greater buyer expertise for company. The platform is underpinned by proprietary know-how that processes over 400 terabytes of journey and market information every day and leverages AI to ship real-time insights that allow clients to make higher and extra environment friendly operational choices. Lighthouse has established itself as hospitality’s main industrial intelligence platform, with 700+ staff worldwide and an industry-leading NPS rating of 70+.
We’re extraordinarily grateful to the 70,000+ hospitality suppliers, who’ve positioned their belief in Lighthouse, stated Sean Fitzpatrick, CEO of Lighthouse. I could not be extra energized by what we’re working in direction of. We’re simply getting began in making hospitality information and instruments extra highly effective, accessible, and inexpensive. This funding by KKR considerably accelerates our potential to boost our industrial platform by means of expanded AI capabilities and extra information units, enabling us to raised serve our current clients whereas persevering with to increase throughout the hospitality market.
KKR has established a confirmed observe report of supporting technology-focused progress firms, having invested roughly $23 billion in associated investments since 2010 by means of its personal fairness and progress fairness funds and constructed a devoted international group of practically 70 funding professionals with deep know-how progress fairness experience. Lighthouse will have the ability to leverage KKR’s intensive {industry} expertise, native sources and international community to assist additional improve its buyer choices and faucet into new segments globally.
Lighthouse has demonstrated an distinctive potential to help hoteliers of all sizes “ starting from international chains to unbiased properties “ by addressing the distinctive wants of every section, stated Stephen Shanley, Accomplice and Head of Tech Development in Europe at KKR. Their sturdy observe report, buyer loyalty, and confirmed potential to ship worth throughout various markets place them because the main platform on this area. We’re proud to help Lighthouse in increasing its international footprint, driving continued innovation, and enhancing its market main choices.
This newest funding builds on Lighthouse’s $80M Collection B funding spherical, which was accomplished in November 2021. Current buyers Spectrum Fairness, F-Prime Capital, Eight Roads Ventures, and Highgate Know-how Ventures will proceed their participation within the enterprise.
KKR is making the funding in Lighthouse by means of its Subsequent (LON:) Technology Know-how III Fund.
William Blair acted as monetary advisor. Latham & Watkins served as authorized advisor to Lighthouse and Gibson Dunn as authorized advisor to KKR.
About Lighthouse
Lighthouse (previously OTA Perception) is the main industrial platform for the journey & hospitality {industry}. We rework complexity into confidence by offering actionable market insights, enterprise intelligence, and pricing instruments that maximize income progress. We frequently innovate to ship the perfect platform for hospitality professionals to cost extra successfully, measure efficiency extra effectively, and perceive the market in new methods. Trusted by over 70,000 resorts in 185 nations, Lighthouse is the one resolution that gives real-time lodge and short-term rental information in a single platform. We try to ship the very best expertise with unmatched customer support. We contemplate our purchasers as true companions”their success is our success. For extra details about Lighthouse, please go to: https://www.mylighthouse.com.
About KKR
KKR is a number one international funding agency that provides different asset administration in addition to capital markets and insurance coverage options. KKR goals to generate enticing funding returns by following a affected person and disciplined funding strategy, using world-class folks, and supporting progress in its portfolio firms and communities. KKR sponsors funding funds that spend money on personal fairness, credit score and actual property and has strategic companions that handle hedge funds. KKR’s insurance coverage subsidiaries provide retirement, life and reinsurance merchandise below the administration of World Atlantic Monetary Group. References to KKR’s investments could embrace the actions of its sponsored funds and insurance coverage subsidiaries. For added details about KKR & Co. Inc. (NYSE: NYSE:), please go to KKR’s web site at www.kkr.com. For added details about World Atlantic Monetary Group, please go to World Atlantic Monetary Group’s web site at www.globalatlantic.com.
View supply model on businesswire.com: https://www.businesswire.com/information/house/20241120724034/en/
Lighthouse
Adam Swart
pr@mylighthouse.com
KKR
FGS World
Alastair Elwen / Jack Shelley
+44 20 7251 3801
KKR-LON@fgsglobal.com
Supply: KKR
