Index Ventures leads £8m funding for Secret Escapes

The VC invested alongside existing investors Octopus Ventures and Atlas Venture, which backed the company twice since its inception in 2011. The business plans to use the funding to boost UK growth and launch internationally by developing the brand. It will also extend the range and choice of travel offers, the company's CEO said in a statement.

Company
Secret Escapes is an online travel club that notably runs flash sales of hotel room bookings. The company saw its revenue increase by 1,400% in the year running up to August 2012, resulting in a monthly compound increase of 24%.

The business launched in January 2011 and now has more than two million members; it is aiming to double this amount by the end of 2013. The company plans to launch new products, including Secret Escapes Impulse, which allows last-minute travellers to check into their hotels on the day they book.

People
Ben Holmes led the investment as a partner at Index Ventures and will join the company's board. Alliott Cole of Octopus Ventures has been involved in the company from its inception.

Advisers
Equity - Torch Partners (Corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Index Ventures
• United Kingdom
• Octopus Ventures
• Atlas Venture