Canaan Partners, a $2.4 billion global venture capital firm, has led a $15 million, Series B investment in EzRez Software, Inc., a B2B provider of online travel systems.

Published: 02 Aug 2007

Canaan Partners, a $2.4 billion global venture capital firm, has led a $15 million, Series B investment in EzRez Software, Inc., a B2B provider of online travel systems.

The new funding will enable EzRez to drive product development and international growth to meet the increasing demand for robust, online travel systems that can be easily branded and customised for multiple businesses, according to an official release.

Post this investment, Canaan general partner John Balen will join EzRez’s board of directors.

Balen said, “EzRez is disrupting the online travel market through its next generation, web-based solution.”

He added the online travel industry continues to expand and EzRez is poised for significant growth with a solution “that allows any company to offer world-class, online travel products that fit their unique business requirements.”

“We are changing the way online travel can be offered and consumed and this round of funding will help fuel our innovation and growth even further,” said Tina Fitch, President and CEO of EzRez.

Fitch said, “Our Web based solution allows any company to customise and create a branded online travel site for their business, event or target audience in less than 24 hours. Our SaaS model, unique technology infrastructure and wide partner network allow us to provide a world class, online travel system that is customisable and scalable in a way no other online travel site has been before.”