Hotel software specialist P3 says it plans to double its workforce after bringing in funding of €750,000.
The investment in the Dublin-based company comes from Business Venture Partners and adds to the €350,000 in funding the company received from Enterprise Ireland last year.
P3, which offers hotels products including custom booking engines and online check-in and checkout technology, now plans to expand to Germany and the U.S.
According to a statement the funds will go towards creating 15 new jobs across Germany, the U.S. and Dublin.
Phelim Pekaar, CEO of P3, says: "This investment from BVP will take P3 to the next level. One of the biggest learnings for the hotel sector from the past two years has been recognition of the need to change and innovate, to embrace technology and use it to your advantage – in areas such as integrated online check-in/checkout and secure payment facilities.
"Lots of hotels which previously did not give enough consideration to this are now analyzing their IT infrastructure and are changing their older reservation systems to newer platforms. They want to realize the benefits that technology offers and are now looking for software solutions which allow them to enhance the guest experience and drive revenue growth. This shift is providing tremendous opportunities for companies such as P3."
Elliot Griffin, managing director of BVP, says: “Our investment is the culmination of a process where we took time to learn and understand the mechanics of what P3 does, the people involved in the company, and its potential for growth.”
P3 received €100,000 in funding in 2019 to develop its online check-in technology.