Duetto Research secures $10M investment, brings Big Data to hotel technology
Duetto Research, a self-styled Big Data-driven specialist for hospitality revenue management and technology, has secured a hefty $10 million funding from a string of high profile investors.
Led by Battery Ventures and Altimeter Capital, Duetto’s latest injection also attracted investment from previous backers Thayer Ventures, Trinity Ventures and Marc Benioff, founder and CEO of Salesforce.com.
Duetto had previously raised $2.1 million. Benchmark Capital did not participate in the latest round.
The company is pounding the Big Data angle, claiming its tools – a mixture of pricing and operational intelligence – will displace “legacy on-premise hotel revenue management systems”.
Duetto CEO Patrick Bosworth says:
“We are taking revenue management to the next level with a focus on demand optimization.
“Utilizing Big Data allows us to deliver better insights on demand; improving pricing optimization, forecasting and even hotel operations. “
Battery Ventures general partner Bran O’Malley reckons the application of Big Data to the travel and hospitality industry is a “rich field of opportunity, even more so than in most verticals”.
Kevin May is a senior editor and one of the co-founders at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and will be publishing his first book - a biography about electronic band, Depeche Mode - soon.