Adara, a US-based analytics platform aimed at the travel sector and backed by hotel investment company Thayer Lodging Group, raised a $23m series C round yesterday led by corporate-backed World Innovation Lab.
The round also featured August Capital, Morgenthaler Ventures, Onset Ventures and QuestMark Partners.
Incorporated in 2009, Adara’s analytics platform offers travel providers an insight into consumer preferences. The service takes into account booking, search and loyalty data, and is used by companies such as airlines United and Delta.
Adara will use the funding to support its global expansion efforts, focusing particularly on Asia, and product development. World Innovation Lab will assist Adara with the expansion.
In 2013, the company closed a $20m series B round following an extension led by QuestMark and featuring Thayer Ventures, a venture capital firm backed by Thayer and hotel equipment supplier Quest Hospitality, August, Morgenthaler, Onset and Baseline Ventures.
August had led the initial $12.4m tranche in 2012, when it was joined by Onset, Morgenthaler and Baseline.
Adara obtained $11.7m in series A funding from unnamed investors in 2011.