Livebookings, European-based restaurant reservation service, has secured $16 million in a new funding round from Germany/Pan-European VC firm Wellington Partners. Niklas Eklund, Livebookings’ CEO says Livebookings is “at a point” where it clearly sees itself scaling globally.
It’s also clearly benefiting from credit-crunched restaurants now switching to online reservations to fill their tables, something Livebookings says has risen by 91% this summer compared to last, but there is plenty of growth left in the market. Only 7% of restaurants currently use online reservations, according to the company.
The move follows a previous $12 million injected from Balderton Capital and other investors over 2008 and 2009. Livebookings will also build it’s network of affiliate partner websites.
Excellent model especially in these days!
Good luck
Oh man… I would love to see these guys com to the States and give OpenTable a run for its money.
What is the pricing model for this service?
They take a portion of rice on every booking and keep the complimentary coke.