Livebookings secures new funding to boost restaurant reservation service

28th September 2009, 11:03am

Livebookings, the reservations service for the restaurant industry has today announced that it has secured $16 million new funding led by capital firm Wellington Partners.

The online service says it will lead to "strengthening and expanding its position" in Europe.

This current flow of investment comes after $12 million was injected over the last year by Balderton Capital and other investors.

Niklas Eklund, CEO for Livebookings said: "Livebookings has grown aggressively since day one and we're now at a point where we see a fantastic opportunity for further managed but rapid growth supported with further investment.

"Despite the recession, recent figures show the number of new restaurants now using online reservations to fill their tables has risen by 91% this summer compared to last. However we estimate only 7% of restaurants currently use online reservations, showing us the enormous growth potential in our chosen market."

Daniel Waterhouse, partner for Wellington Partners, added: "As consumers increasingly search online for places to eat, restaurants all over the continent are starting to take advantage of the unique marketing channel the internet provides."

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