Hospitality distribution tech specialist HotelPORT has secured $1.5 million in growth financing.
The investment in the U.S.-based company was provided by Hum Capital’s Intelligent Marketplace. It will be put towards strategic growth initiatives and operational expansion. Platform development is also on the cards including artificial intelligence (AI)-powered content and technology to boost guest engagement.
“Hum’s model aligned perfectly with our business,” said Fred Bean, founder and CEO of HotelPORT. “We needed a financing partner that understood the rhythm of recurring SaaS revenue and the importance of timing capital deployment around client expansion cycles. Hum delivered exactly that. We’re executing on a vision to make verified content and AI-driven guest engagement the new standard.”
The flexible financing facility enables the company align repayment with revenue generation and allows HotelPORT to accelerate execution on key initiatives.
In an interview with PhocusWire earlier this year, Bean shared his views on AI and its potential to deliver meaningful data to hoteliers. He also discussed the hospitality's readiness to adopt new technology.