Zuzu Hospitality Solutions, which offers revenue management as an outsourced service to independent hotels, has notched $3.7 million in a Series A round.
Wavemaker Partners led the funding round alongside existing investors Golden Gate Ventures, Convergence Venture and Alpha JCW Ventures; new investors Access Ventures and Line Ventures also participated.
The capital will help the Singapore-based company, which currently operates in Indonesia and Taiwan, expand to Thailand, Malaysia and Australia.
Founded in 2016, Zuzu combines a proprietary hotel operating system with specialist revenue managers. The company says through its service, independent hotels to see an average uplift of 30% in online revenue.
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“Zuzu is now the only complete outsourced yield management solution for independent hotels. Rather than dropping a piece of software on a hotel and expecting them to figure it out for themselves, we provide both the software and the service,” says Zuzu co-founder Dan Lynn.
“We let hoteliers outsource their yield optimization so they can focus on hospitality and delivering a great experience day to day. We are also the only partner of independent hotels that delivers revenue upside for them, making us true hotel partners for the long-term.”
In 2017, a $2 million seed round was used to further product development. As part of Zuzu’s next phase of growth, Jack Coleiro has been named country manager for Australia, and Prae Wattanalapa has been appointed country manager for Thailand.
See Zuzu’s Summit pitch from The Phocuswright Conference 2018 and its interview in the PhocusWire Studio below, and register for the Phocuswright Europe event in May by clicking here.
PhocusWire @ Phocuswright 2018 - ZuzuHotels pitch analysis
Zuzu Hospitality Solutions