Secret Escapes secures second round finance

Luxury deals website Secret Escapes has secured a second round of funding and announced a new chief executive as the company pursues further market share in the competitive online travel sector.

The website, which runs flash sales of four and five star hotels and holidays, has appointed Alex Saint as CEO of the company, which launched in January this year.

Saint moves from Dealchecker where he also held the CEO position. His appointment comes as the company announces a second funding for an undisclosed amount.

According to a statement from the company, the website has attracted 750,000 active users, and is currently doubling turnover every three months. Last month, Secret Escapes announced co-branded partnerships with travel and leisure industry players including Teletext and a national newspaper.

Tom Valentine, managing director of Secret Escapes, comments, ‘Consumer response to the site has been phenomenal and we’re now firmly established in the marketplace. Our additional funding is supporting major new marketing initiatives, which will support our drive to become market leader in this space.’

Valentine, Saint, Troy Collins and Andrew Bredon founded the business in 2010. Secret Escapes does not use a voucher service. The company sells actual dates and rooms via a booking engine which means that customers can book their holiday or hotel stay directly on the Secret Escapes website.

In April this year, the company announced the close of a seed investment round from a group of angel investors, including Atlas and Octopus Ventures. Octopus invested in the company through its Titan Venture Capital Trusts 3 & 4 and Octopus Venture Partners.

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

Related Topics

The Travel Business