The Hotels Network Secures 10M€ in Series B Funding to Help Hotels Worldwide Grow Their Direct Booking Channel
BARCELONA - June 10th, 2020. The Hotels Network (THN), a full-stack direct growth platform for hospitality, announces it has closed 10€ million in Series B funding. The round is led by Elaia, with current investors Seaya Ventures and Seedrocket 4Founders also participating.
In order to survive and thrive in today's challenging environment, hotel brands will have to develop a strong Brand.com channel. Doubling down on their commitment to the hospitality industry, THN will use these funds to build the products hotels need to achieve this within the new context.
Since launching in 2015, THN has become the leader in a new hotel tech category, direct channel growth for hotels. Pioneer of Predictive Personalization in hospitality, THN enables hotels to offer guests a truly customized online journey by leveraging personalization and machine learning techniques. The resulting increase in conversion rates and revenue per customer not only reduces acquisition costs but also helps hotel brands regain that all-important direct relationship with guests.
Juanjo Rodriguez, CEO at THN, explains, "Usage of our product by our clients increased 120% during the first weeks of the crisis, which indicates just how essential it is, especially now. Hoteliers are using our solutions to personalize the end-to-end online experience and communicate with guests when it matters most. It's about reassuring travelers while rekindling their imagination, right from the first moment they start dreaming about a trip again."
Pauline Roux, Partner at Elaia, will join THN's board of directors. She comments, "Predictive Personalization enables hotel website users to enjoy a better booking experience and hotels to fuel their direct booking growth. Hoteliers are now able to get closer to their customers, which is the essence of the industry. This opportunity, together with the company's success to date, make us believe that THN will become a major global player in the hotel tech industry, which is the driving factor for us to invest. We look forward to being part of this next stage of global scale-up."
Already more than 5,000 hotels in 96 countries use the THN platform to grow their direct bookings. This rapid expansion demonstrates the effectiveness of having an innovative product that really brings value to customers. Clients of THN include leading hospitality brands such as One&Only, Minor Hotels and Barceló Hotel Group.
"The company has achieved a series of impressive milestones and is clearly providing a response to a currently unanswered need from hoteliers around the world." says Antonio Giménez de Córdoba, Partner at Seaya Ventures. "We are proud to keep partnering with such an ambitious project."
Juanjo Rodriguez concludes, "With this additional funding, we will continue to support the recovery of our industry by building powerful, new technology for our hotel clients, not just a better version of existing solutions."
About Elaia
Elaia is a European top-tier VC firm with a strong tech DNA. We back tech disruptors with global ambition from early stage to growth development. For the past 17 years, our commitment has been to deliver high performance with values.
We are proud to have been an active partner in over 70 startups including success stories such as Criteo (Nasdaq), Orchestra Networks (acquired by Tibco), Sigfox, Teads (acquired by Altice), Mirakl and Shift Technology. Learn more www.elaia.com • @Elaia_Partners
About Seaya Ventures
Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses enabling them to become global leaders. For more information visit www.seayaventures.com.
About The Hotels Network
The Hotels Network is an inventive technology company working with over 20,000 hotels around the globe. Boasting an international team of specialists with deep expertise in hospitality, product design and consumer marketing, the company offers clients a full-stack growth platform to power their direct channel. By leveraging a series of integrated tools and analytics, hotel brands can attract, engage and convert guests throughout the user journey.
In addition to price comparison, reviews summary, and a suite of personalization options, THN's Direct AI Suite is deeply integrated in their platform, from predictive analytics to generative AI. Predictive Personalization uses machine learning to predict user behavior and automatically tailor messaging and offers for each user. BenchDirect's benchmarking tool provides unmatched competitive data for the direct channel. Recent innovations include KITT, an AI-powered receptionist, and Loyalty Lite, a seamless guest login tool for personalized booking experiences.
THN is proud to have been recognized for the company's product innovations, rapid growth, and unique workplace culture for the second year in a row, most recently named the Best Direct Booking Tool for 2024 in the prestigious HotelTechAwards.
For more information about THN, visit https://thehotelsnetwork.com/en or contact [email protected].
Fiona Gillen
VP Marketing
