PriceMatch, a Paris, France-based provider of a revenue management platform for hotels, raised €1m in funding.
Backers included Partech Ventures, San-Francisco based Tekton Ventures and a family office.
The company intends to use the funds to further develop new products and services in France and abroad.
Founded in January 2012, PriceMatch developed econometric algorithms forecasting demand and feeding price recommendations to hoteliers, helping them adjust room prices to demand and thus trying to increase revenue.
PriceMatch collects real-time Big Data (history of reservations, competitors’ prices and their e-reputation, flight prices at same dates, calendar events, weather forecasts) and recommends to the hotelier at what price and on which distribution channels (Booking.com, Expedia, branded website, Tour-Operator, etc.) rooms available should be sold, for the coming nights and up to 3 months ahead.
It is used by 200 hotels in France and abroad.