Summit Partners invests over $2 million in Web Reservations International

THE online booking company Web Reservations International (WRI) has secured funding from the US venture capital firm Summit Partners.

Summit will take a minority stake in Web Reservations, which is backed by U2 manager Paul McGuinness, and one of its partners - Scott Collins - will take a seat on the company’s board.

It was not disclosed yesterday how much Summit has invested in Web Reservations, although Summit’s website says its minimum investment is $2 million (€1.67 million).