A trio of venture funds have added another £15m to their investment in online restaurant marketing provider Livebookings.
The capital injection from Balderton Capital, Wellington Partners and Ekstranda follows record first quarter sales for the UK company, which saw revenue grow 34 per cent and diner numbers 65 per cent, to 3.8 million, year-on-year.
Livebookings said its consumer website had also exceeded one million visits in a month for the first time.
The company’s CEO Colin Tenwick said, “Over the last 18 months we have put in place the engines that drive growth by investing in the development of new products, building a larger sales force and implementing new customer support systems to facilitate the growing customer base.
“The market leading increase in dined covers, customers and revenue is testament to this strategy and the new funds will help us to increase our market leading position, deliver the most innovative products to the marketplace and drive even more incremental revenue for our customers.”
Balderton manages about $1.9bn in committed capital from university endowments, charitable foundations and pension funds, and completed raising its fourth fund in December 2008.
Wellington manages about €800m and aims to lead financing rounds between €1m and €50m.
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