One Night, a same-day hotel booking app based in New York, has closed its Series A funding round led by consumer venture capital firm SWaN & Legend. The financial terms of the round were not disclosed.
Led by Amar Lalvani, CEO of hotel and hospitality group Standard International, and chief commercial officer Jimmy Suh, One Night launched in late 2016 and has grown to 17 markets, including London and Bangkok. The mobile app features over 200 independent hotels.
Jimmy Suh said:
“With SWaN’s investment, we are in a great position to accelerate the growth of the One Night app and help both our hotel partners and travelers, alike, realize greater benefits. With the funding, we also will be launching a new distribution channel later this year that is poised to disrupt traditional Online Travel Agencies and set the stage for the next generation of travel agents.”
David Strasser, managing director of SWaN, added:
“One Night was founded with a vision of creating a better marketplace for travel and experiences across the world. We are looking forward to partnering with the One Night team, a group with strong industry expertise and a passion for eliminating the friction between hotels, OTA’s, and consumers by providing a better experience and value for all.
“We are excited by the progress the team has made in creating a differentiated experience and look forward to supporting Jimmy and his team as they build a disruptive new travel platform.”
With SWaN and Legend’s investment, One Night will spin off from Standard International with Jimmy Suh leading One Night’s operations. By the end of 2019, the app will be in 30 cities with over 300 hotels.