RoomPriceGenie Raises CHF 1M to Scale its Hotel Revenue Management Software
27.11.2019
The Zug startup RoomPriceGenie, which recently won CHF 40,000 at Venture Kick Stage 2, has raised a first round of external funding led by Wingman Ventures. The investment will be used to expand further their dynamic pricing solution specially designed for smaller and independent hotels.
.jpg) RoomPriceGenie co-founders Ari Andricopoulos, Marvin Speh and Joerg Siegel
|
 |
“With RoomPriceGenie, we back an innovative solution, which will have huge impact on the hospitality industry in the upcoming years, enabling smaller businesses to remain competitive thanks to the RoomPriceGenie technology”, Pascal Mathis from Wingman Ventures and Co-Founder of the Swiss travel technology success story GetYourGuide said. We interviewed Ari Andricopoulos, RoomPriceGenie CEO and architect behind the company’s solution, about his entrepreneurship.
What is RoomPriceGenie's mission and core innovation?
We make it possible and simple for small hotels to use dynamic pricing, just like large hotels. To the client this can mean 75,000 francs more revenue a year. Our mission is to make dynamic pricing by RoomPriceGenie a standard and integral part of every small hotel's software package.
How will the one-million-investment led by Wingman Ventures help achieve your vision?
They are a great team of very experienced and knowledgeable hands-on investors. Their vision and guiding influence has already proved very important in making steps in the right direction towards achieving our ambitious plans, and we expect this to continue on our journey. We'll use the funds to further expand and develop our hotel revenue management solution so as to bring to a maximum of small and medium independent hotel managers worldwide.
You've won support from Venture Kick this year. How has Venture Kick helped you lay the foundation for your growth and today's achievement?
We made a number of important contacts through Venture Kick, which was great and led to one of our advisers. Also we found the Kickers Camps to be hugely beneficial - helping to cut through the clutter of the business with very incisive advice and actionable insights.
Despite only launching the first version of its software in the beginning of 2019, the company already now surpassed the 100-client mark. In a recent study with clients, they identified that a random set of clients increased their revenue by over 20% using RoomPriceGenie. The company has the mission to help small hotels worldwide and aims to expand its portfolio of customers and partners next year. “We experience demand from all over the world. Our client base stretches from the US West Coast to Japan, and the partnerships with established hotel software companies helps us to leave a global footprint already.” CTO Jörg Siegel says.
What is RoomPriceGenie's mission and core innovation?
We make it possible and simple for small hotels to use dynamic pricing, just like large hotels. To the client this can mean 75,000 francs more revenue a year. Our mission is to make dynamic pricing by RoomPriceGenie a standard and integral part of every small hotel's software package.
How will the one-million-investment led by Wingman Ventures help achieve your vision?
They are a great team of very experienced and knowledgeable hands-on investors. Their vision and guiding influence has already proved very important in making steps in the right direction towards achieving our ambitious plans, and we expect this to continue on our journey. We'll use the funds to further expand and develop our hotel revenue management solution so as to bring to a maximum of small and medium independent hotel managers worldwide.
You've won support from Venture Kick this year. How has Venture Kick helped you lay the foundation for your growth and today's achievement?
We made a number of important contacts through Venture Kick, which was great and led to one of our advisers. Also we found the Kickers Camps to be hugely beneficial - helping to cut through the clutter of the business with very incisive advice and actionable insights.
Despite only launching the first version of its software in the beginning of 2019, the company already now surpassed the 100-client mark. In a recent study with clients, they identified that a random set of clients increased their revenue by over 20% using RoomPriceGenie. The company has the mission to help small hotels worldwide and aims to expand its portfolio of customers and partners next year. “We experience demand from all over the world. Our client base stretches from the US West Coast to Japan, and the partnerships with established hotel software companies helps us to leave a global footprint already.” CTO Jörg Siegel says.