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DerbySoft to Raise 2nd Round Funding

China Business News, 5/13/08

Hotel booking platform provider DerbySoft has announced the start of a second round of VC funding worth USD 20 mln, with a number of investors already contacted. Northern Light Venture Capital and others invested USD 6.5 mln in the first round of funding, with Northern Light saying it may invest again.

Unlike eLong (Nasdaq: LONG) and Ctrip (Nasdaq: CTRP), DerbySoft provides intermediary technology (known as Dswitch) for hotels and sales agents, allowing real time booking and hotel yield management. Fees are charged on the basis of completed bookings. DerbySoft takes a smaller cut than other intermediaries such as eLong and Ctrip. One of Derbysoft's founders, Zhang Huanjie, has said that the company has 10,000 hotel partners.

Keywords: DerbySoft online travel second-round Northern Light Venture Capital Zhang Huanjie Ctrip CTRP eLong funding Internet LONG VC

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