Hotelmize raises Series B funding from Alibaba, establishes APAC headquarters in Hong Kong

Hotelmize - one of PhocusWire’s Hot 25 Startups for 2020 - is aiming to gain a foothold in Asia Pacific and to expand operations in the region following a new capital raise.

Alibaba Hong Kong Entrepreneurs Fund and Brilliance Ventures are leading the Series B round of undisclosed funding.

Hotelmize, which was founded in 2016 and has raised about $5 million from previous rounds, incorporates artificial intelligence to deliver advanced solutions for hotel resellers.

Its technology automatically monitors fluctuations in hotel room prices to help travel companies increase their bottom-line profit.

"The adoption of advanced technologies as we offer at Hotelmize is a sure way for travel and tourism organizations to keep their edge,” says CEO Dor Krubiner.

"In the coming years, we will see travel industry players transform themselves from ‘commercial enterprises’ into ‘technology enterprises.’" 

The Tel Aviv, Israel-based company will use the new funds to expand its data-driven service offerings and to enhance its core solutions.

The investment also allows the startup to establish its APAC headquarters in Hong Kong as a gateway to China and the entire region.

Cindy Chow, executive director of the Alibaba Hong Kong Entrepreneurs Fund, says that "Hotelmize has proven its value to clients and the team has demonstrated strong implementation capability.

"As we come out from the current difficult situation under the effect of COVID-19, we believe that Hotelmize can contribute to the recovery of the hotel industry with its unique value proposition."

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