LIVEBOOKINGS, an online marketing services company for the restaurant industry, has received £15m to fund its expansion and increase customer numbers.
The London-based business has received further backing from three existing investors, Balderton Capital, Wellington Partners and Ekstranda.
The company operates a web-based reservation service for over 9,000 restaurants across Europe, including Pollen Street Social, Tantris, East, Grill and Aquavit.
Livebookings recently posted strong sales figures, which showed it had seated 3.8 million diners during the first quarter of 2012, 65% up on the same period of 2011.
Revenues are also up 34% and its consumer website Bookatable now exceeds one million hits per month, the company says.
The company says the recent investment will help it to take on new staff, launch new products and consolidate its position as Europe’s largest restaurant booking company.
“Over the last 18 months we have put in place the engines that drive growth by investing in the development of new products, building a larger sales force and implementing new customer support systems to facilitate the growing customer base,” said Colin Tenwick, chief executive officer of Livebookings.
“The market leading increase in dined covers, customers and revenue is testament to this strategy and the new funds will help us to increase our market leading position, deliver the most innovative products to the marketplace and drive even more incremental revenue for our customers.
“Our reservations tools enable restaurants to provide their diners with a free, easy-to-use online bookings service, to manage those reservations efficiently and to collect valuable customer data.”
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