Technology Crossover Ventures (TCV), a Palo Alto based Venture Capital firm, invests in leading travel technology provider SiteMinder, helping to accelerate further development of its category-leading technology platform and scale its global operations.
Leading online hotel distribution and connectivity platform, SiteMinder, has raised US$30M in funding led by Palo Alto based Technology Crossover Ventures (TCV).
SiteMinder joins Facebook, Expedia, Netflix, ExactTarget, HomeAway and other technology innovators as a TCV investment. The partnership was finalized in late December 2013, after a very successful year during which SiteMinder opened its US operations and grew its revenue very aggressively by more than 70%.
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We have been following SiteMinder for a number of years and have been impressed with the companys rapid growth, which has been fueled by market-leading product development and a strong, talented team. As a pioneer, SiteMinders culture of innovation is unparalleled by any other in the sector. We are excited about this partnership and look forward to working with SiteMinder in continuing its global expansion, said David Yuan, TCV General Partner, who also sits on the boards of AppNexus, Merkle and Sitecore………….
About TCV
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage technology companies, providing funds to later-stage private and public companies. With over $7.7B in capital raised, TCV has invested in over 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, Go Daddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Thinkorswim, and Zillow. TCV has 12 partners and is headquartered in Palo Alto, California with offices in New York and London. For more information, visit www.tcv.com.
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