OTA Insight, a London, UK-based provider of a data intelligence platform for the hospitality industry, raised $20m in funding.
The round was led by Eight Roads Ventures with participation from F-Prime Capital Partners. Additionally, Michael Treskow, a partner at Eight Roads Ventures, will join OTA Insight’s board of directors.
The company intends to use the funds to further build out its platform, with a particular focus on advancing its machine learning and AI capabilities, and further expand its engineering, business development and marketing teams.
Led by Adriaan Coppens, CEO and co-founder, OTA Insight provides hotels, resorts and vacation rentals with a cloud based platform to optimize their revenue and improve profitability. The 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.
Currently, OTA Insight is used by more than 16,000 properties in 134 countries.
Customers include Carlson Rezidor, Hilton, Accorhotels, Louvre, Choice, Best Western, Kimpton, SBE and NH Hotels.