Southampton startup gets $5.8M
Murat Ozsu, in his Southampton office, founded innRoad Inc., a start-up company that Long Island business leaders hope will be attractive to venture capitalists. Ozsu's company develops software for hotels. (Jan. 28, 2011) Credit: Gregory A. Shemitz
InnRoad, a Southampton-based startup that makes software for hotels, has received $5.8 million in funding from two venture capital firms.
The company will use the financing from Blue Heron Capital, of Richmond, Va., and Rose Park Advisors, of Boston, to continue developing and marketing its programs.
The software is used by more than 350 independent hotels in the United States and Europe to manage bookings, reservations, payments and other tasks.
The funds mark the second round of financing InnRoad has received from the firms. Patrick Campbell from Blue Heron and Matt Christensen of Rose Park have agreed to join the company’s board of directors.
InnRoad has raised a total of $7.7 million since being launched in 2008 by Murat Ozsu, chief executive. It employs roughly 22 people, including 12 on Long Island, and has offices in Southampton and India.
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