Hotel safety technology company ROAR for Good has raised a round of growth capital to meet the increase in demand for its hospitality panic button solution.
Terms of the deal were not disclosed, but participating investors include Social Venture Circle, Untours Foundation and a number of private angel investors.
With the funds, ROAR for Good - which is certified as a woman-owned business by the National Women Business Owner’s Corporation - plans to ramp up marketing and sales efforts of AlwaysOn, its panic button platform that alerts hotel staff of potentially dangerous scenarios for workers.
The AlwaysOn solution uses patent-pending wireless Bluetooth mesh technology designed to summon help to the wearer’s exact location.
“We couldn’t be more excited to have partners who are dedicated to our mission and see the value in delivering peace of mind to hotel workers across the industry,” says ROAR for Good co-founder and CEO Yasmine Mustafa.
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“We want to turn up the volume on a longstanding problem that can be addressed with technology. Our data reveals that better employee morale, retention and productivity begins with a sense of security.”
Despite the toll the pandemic has had on the hotel industry, ROAR for Good says hoteliers are looking to invest in safety technology as a solution to some of their workforce challenges.
Since the vaccine distribution in December 2020, the company has received a 1,164% increase in new inquiries looking for a hotel panic button solution. The interest is also being driven by safety compliance requirements hotels in some states must meet by December 2021.
In the coming year, ROAR for Good plans to make several strategic hires and will invest in new product technology capabilities and leverage its platform in other verticals such as healthcare and education.
"Investing in ROAR for Good again was a no brainer,” says Steven Finn, partner at Marstar Investments.
“For us, the opportunity is tremendous and fragmented, they've built out scalable technology, and the success of the company means the safety and security of a constantly at-risk demographic. You can't ask for a more noble or relatable mission than that, and Yasmine is a leader who will continue to fight for these issues."
Founded in 2014, ROAR for Good is the preferred vendor of Marriott Vacations Worldwide, Aimbridge Hospitality, Interstate Hotels & Resorts and Gulph Creek Hotels. The Philadelphia-based company is also a certified B Corporation.