Backer Flashpoint Venture Capital makes its 12th investment in Israel over the last six years
Growing demand for revenue optimisation sees Hotemize secure $12m Series B round
Hospitality and travel profit optimisation platform Hotelmize has finalised $12 million Series B funding round led by Flashpoint Venture Capital.
The firm has developed a re-pricing solution for the hotel sector which is currently used by over 100 partners in 33 countries.
Hotelmize says it is about to launch a new optimisation product suite in the second quarter of 2023.
The series B round comes after Hotelmize reported over 800% year-on-year growth and retained some of the biggest B2C and B2B travel brands in the industry.
Dor Krubiner, Hotelmize chief executive, said: “We are thrilled to have received this funding, which will allow us to continue our rapid growth, develop our optimisation suite, and most importantly, enhance our partner's business performance across the globe.
“We are grateful for the support of our investors, who share our vision for the future of the hotel booking industry, and we look forward to continuing to serve our partners and driving innovation in the hotel booking space.
“Lastly, I would like to extend a warm thank you to our talented and dedicated team who are the reason for Hotelmize’s continued success. Without such a creative, hardworking, and supportive group, this company would not be where it is today.
Alexander Konoplyasty, managing partner at Flashpoint Venture Capital, added: “We are pleased to see Hotelmize revenues and profitability growing rapidly on the back of the development of their products disrupting the travel market.
“During our due diligence, we were amazed by how the clients of Hotelmize are happy with the level of service they get from the company. We welcome Hotelmize to the Flashpoint Family - this is already our 12th investment in Israel over the last six years."
Hotelmize said the COVID pandemic has “accelerated demand for revenue-generating technologies to help travel companies recover from the slow business period.
The firm’s platform deploys modern technology to boost profits and create new travel products based on financial modelling, data, and artificial intelligence.
The system analyses partner data and optimises their purchase rates, utilising the Hotelmize’s proprietary AI predictive algorithm and room mapping technology.
Hotelmize was founded by Krubiner, chief operating officer Omry Litvak, and Guy Levitan, chief technology officer.