Plusgrade, a specialist in ancillary revenue solutions has acquired upselling platform Oaky for an undisclosed sum.
Plusgrade is building a unified upsell platform combining features from both companies so that hotels and guests have access to a comprehensive solution which covers the traveler journey including pre-arrival offers to on-property upgrades.
"By acquiring them, we are combining the best of both of our worlds: Our products, our customer footprints and our teams," said Ken Harris, founder and CEO of Plusgrade. "We are thrilled to welcome Oaky's partners, and in doing so, create what is now a premier portfolio of hotel and resort partners in the industry. This vast network of incredible properties will enable us to deliver even greater value and innovation to all as we accelerate our shared success together."
"Oaky has built a leading reputation for helping hotels create upselling experiences that guests actually value," said Erik Tengen, co-founder and CEO of Oaky. "Now, with Plusgrade, we're merging the best of two platforms into a single experience to truly supercharge our ability to bring innovation and more revenue back to hotels worldwide. Together, we will set a new standard of what 'best' means because when the best comes together, everyone benefits.”
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Tengen will take up the role of president, Hospitality Upsell at Plusgrade as part of the acquisition.
Lars Jonker, co-founder of Oaky, said: "We're incredibly proud to have found a strong new home with Plusgrade for the business we've built with such care and commitment. This marks an exciting new chapter as two passionate teams come together, aligned by a shared vision for growth and innovation."
The acquisition of Oaky is the third for Plusgrade in recent years. The company acquired Points.com in 2022 followed by Upstay in 2023.
Netherlands-based Oaky, which launched in 2013, raised $9.5 million 2020 and said at the time that the investment would go towards product development, recruitment and geographical expansion. Plusgrade, meanwhile, received an undisclosed strategic investment from General Atlantic in early 2024.