HyperGuest, a hospitality technology platform, closed a $23 million Series A funding round to accelerate growth and enhance its offerings for hoteliers and travel providers.
The new funding was led by Lightspeed Venture Partners and included Viola Ventures and new investor Thayer Ventures.
HyperGuest's platform enables hotels and suppliers to directly connect with travel distributors, including online travel agencies, agents groups, tour operators, travel management companies, bedbanks and more. That real-time connectivity helps hoteliers optimize inventory distribution, streamline operations and increase revenue.
CEO and co-founder Nir Yaron said he was thrilled to announce the funding round.
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"We have achieved a significant milestone of 25,000 live hotels while partnering with over 380 demand customers and more than 150 global technology integrations,” he said. “This remarkable progress has led to exceptional growth, with both bookings and revenue rising by more than 10 times year on year. We are proud of the support of our investors, who share our vision of reshaping the travel landscape."
The company plans to further expand its global footprint, invest in product development and enhance its technology infrastructure. Additionally, HyperGuest aims to scale its sales and marketing efforts to drive customer acquisition and increase market penetration.
"We are excited about our partnership with the HyperGuest team as they redefine the hospitality industry," said David Gussarsky, partner at Lightspeed Venture Partners. "Their innovative technology and forward-thinking approach have the potential to disrupt the traditional distribution landscape and empower hoteliers to regain control of their inventory. We are confident in HyperGuest's ability to drive significant growth and look forward to continue supporting their journey."