Cloudbeds plans to further invest in its hospitality management technology platform after landing an additional $82 million in funding.
Viking Global Investors led the Series C all equity-round, with participation from PeakSpan Capital, Recruit Co. Ltd., Counterpart Ventures and Cultivation Capital.
The San Diego-based company previously raised $21 million, including a $9 million Series B investment in 2017.
Through its software suite, Cloudbeds simplifies working among online travel agencies, payments, reservations and reports so that hoteliers can focus on helping guests and growing revenue.
Richard Castle, co-founder and COO of Cloudbeds, says the company has “broken away from the traditional definitions of PMS, channel manager, RMS, analytics and booking engine.
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“Hoteliers need a complete solution that provides the insights and flexibility to better understand their property and guests, and ultimately deliver a better guest experience.”
Since launching in 2012, Cloudbeds has been leveraged by more than 20,000 hotels, hostels, inns and alternative accommodations across 157 countries.
“Last year, we surpassed 1,000,000 rooms on our system and continue to add tens of thousands of new rooms every week,” says co-founder and CEO Adam Harris.
“With this new funding, we want to triple down on innovation and continue to transform the hospitality industry to help hoteliers and hosts meet the needs of the next generation of travelers.”
Specifically, the company says funds will be used to create new products aimed at growing revenue and deepening hoteliers’ connections with guests, enhanced automation and expanding its API.