Bodmin Hotel Booking Technology Company Grows With New Funding
Caterbook founders Chris and Sally Noon (Image: Caterbook)
A Cornwall hotel reservation management technology company is set to expand with six new jobs after securing new investment funding.
Caterbook in Bodmin, Cornwall was started in 2005 by Chris and Sally Noon.
The couple realized that there was a niche in the market for a more integrated reservation system for hotels and the hospitality industry after having had several systems in our hands, often not integrated within the industry.
They set out to create a single, comprehensive solution for hotels and other accommodation providers and Caterbook was born.
The resulting cloud-based Property Management Service (PMS) is innovative software capable of automating or simplifying many repetitive tasks that hotels face on a daily basis.
The system provides accurate data and statistics while saving time and money by reducing errors. It is also linked to many EPOS systems and booking platforms allowing Caterbook users to get everything they need from one system.
Caterbook has now secured a Â£ 100,000 investment in shares from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a larger funding round of Â£ 200,000.
The investment will help the company expand its sales and marketing functions to accelerate growth. Over the next three years, six new jobs will be created within the company to strengthen the sales and customer support teams. The company will also seek to appoint an COO.
The company has already received a loan of Â£ 150,000 through CIOSIF, which has helped it complete the research and development phase and early deployment of the software. This debt agreement was managed by SWIG Finance which works with the FSE group to provide the small business loan portion of CIOSIF.
Chris Noon, co-founder and CEO of Caterbook, said: âSince March of last year, the UK hotel industry has certainly been hit hard.
âDuring the pandemic we have kept in touch and retained our customer base and now the restrictions have started to lift, we are really looking forward to the summer season. This latest investment will allow us to strengthen our team and grow the business further. . “
With around 45,000 hotels in the UK all affected by Covid, many will be looking for ways to save money and maximize productivity. This provides a growth opportunity for Caterbook while supporting the industry in its recovery.
With a growing customer base of over 100 hotel groups, the company is already helping hotel businesses become more efficient and improve the user experience for its customers.
Ralph Singleton, FSE Group Fund Manager, said: âIt’s great that Sally and Chris have been able to take full advantage of the funding options available through CIOSIF. The fund exists to provide financing solutions to start-up and large-scale businesses as well as more established businesses that for some reason are not able to get the financing they need through sources. traditional.
Mike Chapman, CIOSIF Commercial Director at SWIG Finance, added: âIt has been a difficult year for everyone, especially those who work in the hospitality industry. Chris and Sally have worked tirelessly to make Caterbook a success. This innovative software has the potential to save businesses time and money at a crucial time when breaking lockdown restrictions. “
John Acornley, Non-Executive Director of LEP and Chairman of the CIOSIF Advisory Board, added: âCaterbook continues the trend of innovative Cornish technology companies to harness the full potential of cloud-based systems to help their customers become more efficient and effective. more competitive.
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