British hotel shortlist Top10.com raises $8M in Series B funding
London-based hotel shortlist startup $8 million in a Series B financing led by Balterdon Capital. Accel Partners, Idealab, and Forward Partners also participated in the round that will fund its expansion, according to TechCrunch.
To date, Top10.com has raised a total funding of $12.4 million from its investors. The startup plans to use the new capital to expand further into the European market and to add engineering staff to its current 14-person team, Skift reported.
Top10.com shared its growth strategy: "We're competing with lots of major brands across the travel landscape - from traditional review sites like TripAdvisor to price 'metasearch' platforms like Kayak or Skyscanner. The aim is to provide an ultra-quick hotel discovery experience on every device, without bewildering people with options.
The company added: "We're also experimenting with including social factors - for example Foursquare checkins and Twitter mentions - to uncover the most interesting and hip hotels."
According to Skift, the startup uses review scores, location, price, and popularity to create a shortlist of the Top 10 best hotels for its customers. Its pricing and availability data are derived from big names such as Booking.com and Expedia, the report detailed.
The company also said its monthly revenue from hotel bookings amount to $1 million, VentureBeat reported.