The investment will enable the company to accelerate the development of all the versions of its cloud-based software - such as SpaBooker, SalonBooker and FitnessBooker - which run off its generic Booker platform. It will also enable expansion into new vertical markets.

SpaBooker is the preferred software supplier for both Hilton Worldwide and Six Senses and already has over 2,500 customers in 56 countries. The company has announced a number of innovations in recent months including an in-Facebook booking application.

In announcing the deal, Revolution president, Tige Savage, said: "GramercyOne allows the e-commerce revolution to move from the sale of products to the sale of services. The company's applications finally make it as easy to purchase and schedule an appointment online as it is to purchase a song or a book."

Josh McCarter, CEO of GramercyOne said: "Cloud-based tools are changing the way the world does business and we're looking forward to continuing to set the benchmark in this exciting and critical sector."

GramercyOne was formed in 2010 as a spin out from spa industry marketing company SpaFinder, with the intention of growing the business and its products into other service-based vertical markets.

All Booker products offer online, mobile, and social booking, real-time business management software, tools for capturing customers through social commerce, group buying and mobile and local advertising.