Cherry Ventures backs TourRadar’s $6m series-A

Existing Austrian backers AWS Gründerfonds and Speedinvest also participated in the round.

The startup aims to use the fresh capital to increase its team from the current roster of 40 employees to 70. It also plans to increase its marketing efforts. TourRadar claims it has tripled its revenues in the last year.

For Cherry Ventures, it is the first investment since the closing of its second fund, but the vehicle's ninth investment overall.

Previous funding
AWS and several business angels invested an undisclosed sum in TourRadar in February 2015. Speedinvest, incubators and business angels provided a round of early-stage funding in June 2013.

Company
Headquartered in Vienna, TourRadar is an online marketplace that enables users to compare and book trips. It offers online discounts and does not charge a booking fee. The app also has a communication tool that allows tourists to share travel tips with each other. It claims to collaborate with 500 tour operators, offering 200 destinations.

TourRadar was founded in 2010 and has 40 employees.

People
Cherry Ventures – Daniel Glasner (founder).
Hoxton Ventures – Hussein Kanji (partner).
TourRadar – Travis Pittman (CEO, co-founder).

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• Topics
• Expansion
• DACH
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• Austria
• Venture