The $5 million transaction will allow the travel technology business to expand into new markets and build its Irish, English and Philippine teams.
According to a statement, seven year-old Mobile Travel Technologies (MTT), which builds smartphone apps for travel operators, has doubled in size year-on-year since 2009 and now has clients including easyJet, Quantas Group’s Jetstar and Jumeirah Hotels & Resorts.
Gerry Samuels, founder and CEO of MTT, comments, ‘Consumers are rapidly making the switch to the mobile channel, not just for travel bookings, but for the complete customer experience.
‘Travel brands have a window in which to capture market share and gain customer loyalty through mobile.’
DJF Esprit’s backing of the company follows on from its recent investments in entertainment business Moviepilot through a £4.3 million round and leisure retail website SportPursuit.co.uk as part of a £1.4 million deal.
Brain Caulfield, partner at DFJ Esprit, says that MTT has already experienced success by linking up with ‘industry giants’ such as easyJet.
He adds, ‘MTT has the potential to be an Irish-based, world leader in m-commerce for the travel community – an industry worth between $300m and $1 billion per annum.’
‘DFJ Esprit is working closely with both Enterprise Ireland and NPRF to support investment in high potential Irish companies.’
