Data intelligence platform OTA Insight has received new funding of $20 million.
Eight Roads Ventures led the round, with participation from F-Prime Capital Partners and previous investors.
OTA Insight helps hospitality providers such as hotels, resorts, apartments and hostels optimise their revenue and improve profitability. The cloud-based platform provides revenue managers with intuitive real-time access to competitor rates, online channel insights, ratings and reviews as well as market-specific events and demand forecasts, all of which are used to impact short and long-term pricing strategies.
The company will leverage the funding to further build out its platform, with a particular focus on advancing its machine learning and artificial intelligence capabilities. Adriaan Coppens, chief executive and co-founder of OTA Insight, said: "Our customer-first approach has allowed OTA Insight to create a simple-to-use platform that addresses the needs of revenue managers across a broad range of accommodation types.
"With the help of Eight Roads Ventures and F-Prime, the company is poised to continue to grow its global client base and accelerate the delivery of the latest data and business intelligence products to the hospitality industry.”
In the coming months, OTA Insight will further expand its engineering, business development and marketing teams globally to align with growing demand for OTA Insight’s hospitality solutions.
OTA Insight’s customers include Carlson Rezidor, Hilton, Accorhotels, Louvre, Choice, Best Western, Kimpton, SBE and NH Hotels.