$20M in Growth Funding Propels OTA Insight
Leading data intelligence platform for the hospitality industry will use funding to advance machine learning capabilities and grow team
Dec 13, 2017, 08:07 ET
LONDON and NEW YORK, Dec. 13, 2017 /PRNewswire/ -- OTA Insight, the cloud-based data intelligence platform for the hospitality industry, today announced $20 million in growth funding. Eight Roads Ventures led the round with participation from F-Prime Capital Partners and previous investors.
OTA Insight helps hospitality providers such as hotels, resorts and vacation rentals optimize their revenue and improve profitability. The cloud-based platform provides revenue managers with intuitive real-time access to competitor rates, online channel insights, ratings and reviews as well as market-specific events and demand forecasts, all of which are used to impact short and long-term pricing strategies. The company will leverage the funding to further build out its platform, with a particular focus on advancing its machine learning and AI capabilities.
"Our customer-first approach has allowed OTA Insight to create a simple-to-use platform that addresses the needs of revenue managers across a broad range of accommodation types," says Adriaan Coppens, CEO and co-founder of OTA Insight. "With the help of Eight Roads Ventures and F-Prime, the company is poised to continue to grow its global client base and accelerate the delivery of the latest data and business intelligence products to the hospitality industry."
In the coming months, OTA Insight will further expand its engineering, business development and marketing teams globally to align with growing demand for OTA Insight's hospitality solutions. Additionally, Michael Treskow, a partner at Eight Roads Ventures, will join OTA Insight's board of directors.
According to Treskow, "OTA Insight's history of success across a broad spectrum of hospitality providers speaks volumes about their ability to understand and address revenue managers' needs. We are excited to support the team as they continue building out their platform."
"When speaking with OTA Insight's customers, we were inspired by the impact the product has on their day-to-day work," says Gaurav Tuli, principal at F-Prime Capital Partners. "The hospitality market is fiercely competitive and ever-changing, and OTA Insight's data-driven insights enable revenue managers to stay one step ahead of the competition. We are proud to partner with the team and look forward to supporting the company's continued growth."
Currently, OTA Insight is the rate intelligence platform of choice for more than 16,000 properties in 134 countries. Some of the global and regional-leading hotels that use OTA Insight's platform includes: Carlson Rezidor, Hilton, Accorhotels, Louvre, Choice, Best Western, Kimpton, SBE and NH Hotels. For more information on OTA Insight, visit www.otainsight.com.
About OTA Insight
OTA Insight delivers innovative, easy-to-use, cloud-based revenue management solutions to hotels, resorts, apartments, hostels and accommodation businesses globally. With live updates, 24/7 support from our customer success team, and a highly-intuitive and customizable dashboard, OTA Insight integrates with other industry tools including hotel property management systems, leading RMS solutions and data benchmarking providers.
OTA Insight's team of international experts are based all over the world, including the UK, US, France, Germany, Belgium, Spain, Italy, Peru, Mexico, Singapore, Australia and India, that supports over 16,000 properties in over 134 countries. For more information, visit www.otainsight.com and follow us on Twitter @otainsight.
About Eight Roads Ventures
Eight Roads Ventures is a global venture capital firm that helps entrepreneurs scale. Together with associated funds we manage $3.6BN of capital across offices in the UK, India, China, Japan and the US. A near 50-year history of investing includes partnerships with companies such as Alibaba, Appsflyer, Compte Nickel, Cúram, Future Advisor, InnoGames, iPipeline, Kensho, Letgo, Made.com, Neo4j, Nuance, Ping Identity, Prosper, Treatwell, Recurly, Wallapop and Xoom. www.eightroads.com
About F-Prime Capital Partners
F-Prime Capital Partners is a global venture capital firm investing in life sciences, healthcare and technology. Since 1969, F-Prime has worked closely with entrepreneurs and academics to create innovative solutions to some of the world's most significant challenges in healthcare and technology. For more information, please visit www.fprimecapital.com.
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SOURCE OTA Insight