Hotelmize - one of PhocusWire’s Hot 25 Startups for 2020 – has secured $12 million in an extension to its Series B funding,
with this round by Flashpoint Venture Capital.
Founded in 2016, the Israel-based
company works with online travel agencies, tour operators, bedbanks and other
resellers to help them maximize hotel booking profits and create new travel
products.
Hotelmize uses its proprietary artificial
intelligence-based predictive algorithm and room mapping technology to monitor
fluctuations in hotel rates, analyze its partners reservations and optimize
their profits.
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The company says it will release a
new product portfolio in the second quarter of this year.
“We are thrilled to have received
this funding, which will allow us to continue our rapid growth, develop our
optimization suite, and most importantly enhance our partner's business
performance across the globe,” says Dor Krubiner, CEO at
Hotelmize.
“We are grateful for the support of
our investors, who share our vision for the future of the hotel booking
industry and we look forward to continuing to serve our partners and driving
innovation in the hotel booking space.”
Hotelmize says it currently works with more than 100 partners from
20 countries.
“We are pleased to see Hotelmize revenues and profitability
growing rapidly on the back of the development of their products disrupting the
travel market,” says Alexander Konoplyasty, managing partner at Flashpoint
Venture Capital.
“During our due diligence, we have been amazed by how the clients
of Hotelmize are happy with the level of the service they get from the company.
We welcome Hotelmize to the Flashpoint Family.”
This investment brings total funding for Hotelmize to $20 million.