Duetto brings in $80 million in funding for further product development

Duetto, a revenue strategy platform for hospitality, has closed an $80 million Series D round in funding.

The round was led by funds affiliated with private equity firm Warburg Pincus.

The funds will go towards improving the company’s existing technology for hotel pricing as well investing in additional products and innovation around personalization and ecommerce.

Co-founder and CEO Patrick Bosworth says:

“For more than a decade, hotel companies have been looking for ways to compete more effectively with online travel agencies and drive more direct business.  By unifying data across the tech stack, our platform has become the single source capable of delivering true personalization to consumers.  Hoteliers now have the ability to increase conversion and drive more direct engagement with consumers by personalizing pricing and merchandising at the point of booking.”

Duetto previously raised $30 million back in mid-2015 with total funding now more than $143 million.

In a related blog post, Bosworth says the industry is “poised to embrace new ways to regain control of their inventory, bookings and guest loyalty.”

He goes on to talk about pricing only being one part of revenue strategy and the need for cross department collaboration and the sharing of data.

Related reading:

Duetto adds Red Lion, yet it has loftier goals than helping hotels hike rates

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About the Writer :: Linda Fox

Linda Fox is managing editor for Tnooz. For the past decade years she has worked as a freelance journalist across a range of B2B titles including Travolution, ABTA Magazine, Travelmole and the Business Travel Magazine.

In this time she has also undertaken corporate projects for a number of high profile travel technology, travel management and research companies.

Prior to her freelance career she covered hotels and technology news for Travel Trade Gazette for seven years. Linda joined TTG from Caterer & Hotelkeeper where she worked on the features desk for more than five years.

 

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