Cruisewatch Raises $1M to Enhance AI-Based Prediction Engine to Solve Major Pain Points for Cruisers

HANNOVER, Germany, Sept. 24, 2019 /PRNewswire/ -- Over the last three years, German-based Cruisewatch has amassed more than 100 million relevant data points to inform consumers of the best time to book a cruise and save up to 80% on the initial price.

This new investment will help in increasing their AI efforts to offer forecasting when a cabin type is close to selling out and to create an even more sophisticated price prediction model. In parallel, the start-up has received subsidies for creating a new self-learning recommender system for finding the perfect cruise holiday for each individual customer. This system will be developed based on its own neural network by partnering with the historical technical University of Leibniz in Hannover.

"We are very excited about taking the next steps to implement AI-based solutions for forecasting price movements, cabin availability, and the perfect match for each individual customer. These new services will change the future of digital cruise consulting, as we can offer data-based and fully individualized and automated services," says Markus Stumpe, CEO and cofounder of Cruisewatch. These services include offering the customer the right product at the right time, such as upselling opportunities based on individual needs.

The cruise market is rapidly growing, with almost 28 million global cruisers in 2018. This growth means customers are getting inundated with too many choices and can no longer recognize the best deal. They need Cruisewatch to help guide them to the cruise that best caters to their needs.

Cruisewatch was founded in 2016 by two travel and tech experts and has grown consistently over the last three years. The digital cruise consultant relies on the use of artificial intelligence, mathematical forecasting, and big data analysis to power its predictions. Their team of IT specialists and seasoned tourism experts developed the world's first cruise price forecasting platform.

Everything is fully automated, based on data and self-learning. "We have realized that we are on the right track with our data-driven approach and that customers are strongly demanding our products. We are very pleased with the trust and support from our new investors," says Stumpe. The two new investors in this round include a local venture capital company and a bank.

The financial backing they have received will lead to numerous advancements in their growth efforts, but they are always open to additional partners and investors to further develop their research and technological efforts.

Further information on the Hannover-based start-up can be found on the Internet: https://www.cruisewatch.com/

See open job vacancies: https://www.cruisewatch.com/company/we-are-hiring

Press Contact:
Markus Stumpe – CEO, Cruisewatch
9701 Apollo Dr Ste 481
PMB 91578
Largo, MD 20774
Phone number: +1 (650) 235-4941
Email: [email protected]

SOURCE Cruisewatch

Related Links

https://www.cruisewatch.com/