Amenitiz, which sells software-as-a-service for streamlining the administration of independent hotels and B&Bs which it shorthands as Shopify for hotels, has closed a $30 million Series A few.
The latest round is led by Eight Roads, with existing investors Point-Nine, Backed and Otium Capital also participating.
The company isn't saying how much it is worth, but it says it has scaled its property management system to serve 4,000+ properties across 37 countries.
As well as enabling day-to-day ops, such as guest management, communication and invoicing, Amenitiz's own brand payment module is included in the fully integrated software platform.
It connects customers to a marketplace of third party software tools to meet their needs.
The new funding will be used to expand into more European markets and launch more products on its platforms, along with further scaling the size of Amenitiz's team, with a plan to grow from 150 people to around 350 by the end of this year.
The CEO of Amenitiz said that when they raised their seed round with Point-Nine, they did it with very specific goals in mind. With the opening of Spain and Italy, and the launch of AmenitizPay, we wanted to make it easier for our hotels to manage payments and start recruiting strong leadership, while also scaling the team from 30 to 150 employees.
We decided that now would be a good time to raise another round and keep scaling in Europe because of all the boxes that have been met.
France was the first market of focus for Amenitiz and it will continue to focus on expanding in Europe for now.
80% of the region's hotels, bed and breakfast and vacation rentals are independent properties of 50 rooms or less, meaning they fall into the independent segment Amenitiz is targeting.
France was our initial market and the only one we focused on for the first three years. Since then, we have seen a fantastic response from Italy and Spain, which we launched in 2021, with similar acquisition metrics and initial growth.
The new funding will allow Amenitiz to launch in the UK, Ireland, Portugal, Germany, and Greece, which are all of its existing markets.
He says that they will be adding more features that will help make processes faster and smoother.
The Revenue Management System will allow hoteliers to automate their pricing strategy based on their past market data.
In order to streamline the admin burden, Amenitiz centralizes all that tooling on a single platform.
In Europe, most of our competitive market is made of very local, legacy providers.
Cloudbeds is US and LatAm focused but offers a similar suite of products.
The Amenitiz board member, who is also a partner at Eight Roads, commented on the Series A raise in a statement. This shows how a 10x better product, which is intuitive and easy to use, can quickly achieve product-market fit in a sector that has seen very little innovation in the past few decades. We are excited to work with Alex, Emma and Fred.
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