Rainmaker Group receives $33.8 million equity investment, will expand SaaS hospitality platform

October 30, 2012 By Sean O'Neill Leave a Comment

The Rainmaker Group, the seller of revenue management software for hospitality and other industries, announced today that it has received a $33.8 million equity investment from Norwest Venture Partners (NVP), a leading multi-stage investment firm.

Rainmaker specializes in analytics solutions for revenue management, using the Software-as-a-Service (SaaS) model. NVP’s Jon Kossow and David Su have joined Rainmaker’s board of directors.

Rainmaker’s portfolio includes Atlantis, The Palm Dubai, Caesars Entertainment, MGM Resorts International, Omni Hotels & Resorts, and Wynn Las Vegas.

In July, Rainmaker bought the industry’s only automated budgeting tool from Tappert Consulting Services.

It’s been one year since Silicon Valley Bank completed a $9 million debt financing deal for The Rainmaker Group.

Filed Under: News Tagged With: norwest venture partners, rainmaker group, revenue management, SaaS

About Sean O'Neill

Sean O’Neill is a UK-based reporter for Tnooz.

Since university, he's been a full-time journalist for US consumer magazines and websites, and since 2007 he has covered B2C travel news full-time.

He lives in London and is travel tech columnist for BBC Travel. He used to work in New York City as the online senior editor for Arthur Frommer’s Budget Travel.

In the past, O'Neill held editor, writer, and reporter positions at Kiplinger’s Personal Finance and Foreign Policy magazines in Washington, DC. Please visit his personal site and follow him on Twitter or Google+ .