Zuzu Hospitality Solutions, a revenue management platform for hotels, has landed $9 million in Series B funding.
The round for the Singapore-based company was led by SoftBank Ventures Asia with Atinum Partners and existing investors Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures also participating.
The investment will go towards attracting more hotel partners in the region with a particular focus on India. Zuzu Hospitality is targeting 5,000 partners by the end of 2024.
The company said it also plans to invest in artificial intelligence to “improve pricing, automate guest management and improve partner experience.”
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Vikram Malhi, founder and CEO said: "The round's oversubscription reflects the strong confidence our investors have in our vision and capabilities. This substantial financial boost will enable us to innovate our offerings further, accelerate our growth trajectory and support more independent hotels in increasing their revenue.”
Harris Yang, vice president, SoftBank Ventures Asia, said: ”We are very impressed by the strength of the management team, which is evident in their ability to navigate the tough COVID-19 crisis, and we believe in the long-term potential of their business, which has proven to be fundamentally robust. ZUZU Hospitality’s innovative solutions are poised to drive significant growth in the hospitality industry, and we're looking forward to being part of this journey."
The company, which was founded in 2016, raised Series A funding of $3.7 million in early 2019.
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