PriceLabs, a Chicago, IL-based provider of dynamic pricing and revenue management solutions for the short-term rental industry, raised $30M in funding.
Summit Partners made the investment. Colin Mistele, Managing Director at Summit Partners, has joined the PriceLabs Board of Directors.
The company intends to use the funds to continue commitment to building revenue management solutions and accelerate global team growth.
Led by Richie Khandelwal, Anurag Verma and Sana Hassan, PriceLabs provides dynamic pricing and revenue management solutions for the short-term rental industry. The company’s automated dynamic pricing solution is designed to continuously analyze historical and forward-looking hyper-local data to sense changes in demand and recommend optimal daily pricing tailored to each property’s unique characteristics. The software provides users with data and tools to monitor and research local market conditions and adjust prices to suit the needs of the property and operations. Prices update automatically through direct integrations with over 70 property management software solutions, helping property owners efficiently manage their operations and maximize the profitability of their listings.
Today, PriceLabs powers over 150,000 listings in more than 100 countries.