Online group travel agency TourRadar has completed a second round of funding valuing the company at $4.5 million after appearing on Austria’s version of Dragons’ Den.
The $500,000 cash injection comes a year after an initial Angel Round of funding was secured.
This was led by Erik Blachford, former Expedia chief executive and Jörg Trouvain, the former HolidayCheck chief executive and current 7Travel boss.
It was backed by the SpeedInvest angel fund, which has increased its stake in the second round which also saw the AC & Friends angel fund provide backing.
TourRadar is focused on growth in the tours sector, which is said to be worth $200 billion annually, but which remains largely untapped.
Today over 20,000 group tours can be compared on TourRadar.
Travis Pittman, chief executive, successfully pitched TourRadar on Austria’s “2 Minuten, 2 Millionen”.
He said: “I am happy that we are able to fuel our growth with this investment, growing our brand and converting more tour operators to the agency booking model we now offer.”
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