The Hotels Network, a Barcelona-based startup making software for hotels, has raised $3.7 million led by Seaya Ventures with the participation from SeedRocket 4Founders and NFX.
The company develops software for hotels to increase direct bookings, manage reviews and prices with access to tools for predictive analytics and personalising their websites and booking services. According to the company, it is profitable and working with 3,000 hotels globally, which have seen around a 42% increase in conversation rates, it said.
“The company started as we identified a big gap between the quality of technology used by the large online players and that of hotels themselves, so we wanted to create a product to bridge that gap,” said CEO Juanjo Rodríguez. The new funds will be invested in further product development, he added.
“Each hotel has its own challenge when it comes to increasing conversions through direct bookings, so we work with our clients on a very personal level to identify the right set of tools to help them.”