Restaurant reservation app Eatigo has received a follow-on investment from its existing strategic investor, TripAdvisor, bringing its total raise across all its investors to date to over $25 million.
The pre-series C investment for Eatigo comes as TripAdvisor’s restaurants business unit and its subsidiary, TheFork, look to help expand Eatigo’s presence and services across the Asia Pacific region. On the heels of a successful entry into Hong Kong, India, Malaysia, and the Philippines, Eatigo will use the funds to launch in several more markets and extend its product offering.
“Eatigo is excited to continue its strong relationship and collaboration with TripAdvisor,” said Eatigo’s CEO and co-founder Michael Cluzel. “These new funds will be integral in allowing Eatigo to consolidate and extend the reach of our leadership and expertise in helping customers reserve the perfect table.”
Cluzel said that apart from launching in more countries and expanding product offerings beyond the current scope, the new funding also means more investment in existing markets. Cluzel explained that for the Philippines, the company will focus on growing the restaurant assortments and improving the services for users and partner restaurants.
Eatigo, founded in 2013, operates in six countries with over 4 million users. It also offers the largest inventory of discounted restaurants in the region with over 4,000 restaurant partners, from upscale hotels and fine-dining establishments to popular restaurant chains and neighborhood budget eateries.
TripAdvisor Restaurants was established to better support the needs of diners and the 4.6 million restaurants listed on the travel site. TripAdvisor’s 2014 acquisition of its subsidiary, TheFork, provided the ideal complement to the site’s millions of restaurant listings by positioning it as an immediate online reservations leader in the dining and hospitality industry. At present, TheFork operates out of 11 countries globally and supports reservation services for more than 50,000 restaurants. In the Asia-Pacific region, TheFork operates the Dimmi brand in Australia.
“As we look to further our presence in the Asia Pacific region, we believe our latest strategic investment in Eatigo will continue to support a great business and strong management team,” said Bertrand Jelensperger, senior vice president of TripAdvisor Restaurants and founder of TheFork. “TripAdvisor’s continued partnership with Eatigo will help us both better serve millions of diners and restaurant owners who are increasingly turning to online channels.”
Categories: Media Release