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Emerging Travel Group Raises $10M in Investments From a Consortium of Investors Led by LVL1 Group
RateHawk's turnover grew by over 300% in 2018. Last year, the service started operating in 21 new markets: Albania , Bulgaria , Croatia , Cyprus , the Czech Republic , France , Greece , Hungary , Israel , Italy , Macedonia , Malta , Montenegro , Poland , Romania , Serbia, Slovakia , Slovenia , South Africa , Turkey , and the United Kingdom.
The Company plans to more than double its international staff to scale RateHawk and to continue its investments in technology.
Felix Shpilman , Emerging Travel Group's CEO, commented: "We are excited to scale RateHawk, our fast-growing global B2B service. RateHawk has demonstrated strong traction in all of its 28 launched countries and we continue to open new markets by deploying local business development teams. We intend to focus on the product, localization, and customer support to make RateHawk the default booking engine for any travel professional worldwide."
Lev Leviev , who will be representing investors on the Company's Board of Directors, commented: We are very impressed with the company's traction. B2C maintains its leading position in the local market while B2B continues its fast growth across many regions. The Company has a clear strategy, focus, and solid execution capabilities to unlock further growth and value."
Emerging Travel Group was founded in 2010, and is backed by international venture investors and angels including Vaizra Capital, Founders Fund, Frontier Ventures, Data Collective, Yuri Milner , Esther Dyson , and Fritz Demopoulos .