Hotel Engine raises $65 million

Denver-based hotel booking and management platform Hotel Engine has raised $65 million of Series B venture funding at a $1.3 billion valuation, in a deal led by Telescope Partners with participation from new investor Blackstone. The start-up managed to increase its valuation by nearly 9 times from the $150 million valuation it achieved when it raised $16 million in a Series A round in 2019.

Hotel Engine reportedly experienced a 201% increase in core bookings revenue and increased its customer base by 60% to over 40,000 companies between the third quarter of 2020 and the third quarter of 2021.