Atomize, a revenue management specialist in hospitality, has raised €3.4 million.
The Sweden-based company says the investment, which was led by Vasastaden and Martin Randel, is a precursor to its forthcoming Initial Public Offering.
The funding will go towards product innovation and expansion.
Alexander Edström, CEO of Atomize says: “We are proud to have successfully grown Atomize on a global scale despite the worst crisis our industry has ever been through. Coming out of this pandemic we are experiencing rapidly increasing demand for our solution as hospitality teams need to do more with fewer people.
"The Atomize technology unburdens these teams by facilitating the convergence of commercial functions and making their decisions more effective.”
According to a statement the company is also attracting interest from other segments of travel including car rental, rail and aviation providers.
Edström adds that a public listing will enable the company to demand for automated dynamic pricing, open Atomize up to other segments of travel and look at the potential for acquisitions.
Atomize plans to list on the Nasdaq First North Growth Market, a market for small and medium sized businesses, in 2022.