A group of VC backers led by TCV has provided Austrian online travel agency TourRadar with a $50m round of funding.
Existing backers Cherry Ventures, Endeit Capital, Hoxton Ventures and Speedinvest also took part in the series-C.
Austrian early-stage VC Speedinvest backed TourRadar in its seed rounds, twice investing less than $500,000 in June 2013 and May 2014. Subsequently, Hoxton and Cherry led the company's €6m series-A in May 2016, which Speedinvest also took part in. In October last year, Endeit Capital led a $10m series-B funding round for the Vienna-based online tour marketplace. Existing investors Cherry Ventures and Hoxton Ventures also took part in the round.
TourRadar intends to use the series-C funding to expand its team globally and will also be investing in its technology platform.
Erik Blachford, a venture partner at TCV, has joined TourRadar's supervisory board following the round.
TourRadar was founded in 2010 and is headquartered in Vienna. The company runs an online marketplace for the touring industry, allowing travellers to book multi-day holiday tours. It employed 100 people as of October last year.
TCV – Erik Blachford (venture partner).
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