JackRabbit Systems closes $1.33m in private equity funding

Jun 10, 2010

JackRabbit Systems, a developer of online travel software for destination and travel portal websites, has closed a round of $1.33 million private equity funding co-led with Kickstart Seed Fund and Sun Mountain Capital.

Published: 10 Jun 2010

JackRabbit Systems, a developer of online travel software for destination and travel portal websites, has closed a round of $1.33 million private equity funding co-led with Kickstart Seed Fund and Sun Mountain Capital.

This funding will support national growth plans of the company as they continue to increase market share nationwide.

The financing was led by Sun Mountain Capital and Kickstart Seed Fund with other related investors also participating. The parties closed the transaction last month.

According to an official release, originating four million leads to hotels, JackRabbit Systems' BookDirect product is quickly establishing itself as an innovator in online search engine direct booking for accommodations.

Helping visitors find lodging in local markets, BookDirect provides a comprehensive feature set for Destination Marketing Organisation (DMO) websites, increasing direct bookings and local occupancy rates for hotels.

BookDirect gathers rates and availability information from lodging properties, and displays that information to consumers looking to book rooms. Consumers can then click from the search engine to the lodging property website to complete the booking -- allowing the consumer to become the customer of the property rather than a third party online travel agent owning the transaction.