Nasdaq-listed travel company Concur Technologies has led a $9m Series B round into Nor1 Inc, a provider of data-driven pricing and merchandising software to help hotels maximize revenue.
Nor1 will be integrated into Concur’s Perfect Trip initiative, a $150m fund launched earlier this month in which Concur looks to invest in companies which it can integrate with its own Concur Connect platform. The fund recently invested in Evature, a provider of natural-language search capabilities for online travel.
In addition to the funding, Concur and Nor1 have entered into a partnership in which Concur will use Nor1′s eStandby Upgrade service.
John Torrey, Executive Vice President or Corporate Strategy at Concur, said: “Concur’s vision for The Perfect Trip is built on creating a travel ecosystem that dynamically responds to the needs of business travelers, the companies that they work for and the suppliers that serve them, entrepreneurs like Nor1 are developing the next set of innovations that will ultimately deliver an even better travel experience to our users.”
Nor1 is backed by the principals of Thayer Lodging Group seeded Quest Hospitality Ventures’ inaugural venture capital fund. Previous investors include Accel Partners, Goldman Sachs, and Par Capital Management.