Sojern, a California-based travel tech company, has raised $120m in a financing round led by growth equity firm TCV as it looks to continue its growth and expand into new markets.
As part of the TCV investment, its general partner, Woody Marshall, has joined Sojern’s board of directors. TCV is an experienced investor in the travel tech space having previously invested in the likes of Airbnb, Expedia, HomeAway, and TripAdvisor, to name a few.
Sojern users a combination of programmatic, display, video, social, mobile, and native advertising to drive bookings amongst travel audiences. Last year, it acquired Adphorus, a Facebook and Instagram marketing partner.
“At Sojern, we aim to know all the world’s travellers and move them from dream to destination. Our teams dig deep into the traveller path-to-purchase so we can help our clients win the competition for bookings. We’ve used those insights to drive $13bn in bookings so far, with the goal of transforming digital marketing into digital distribution,” said Sojern CEO Mark Rabe. “With this new partnership with TCV, we’re excited to continue driving efficiency into the ~$100bn being spent by travel brands around the world.”