OTA Insight, the data intelligence platform for the hotel industry, has announced a new capital round of $ 20 million in growth financing. The capital round was led by Eight Roads Ventures, alongside F-Prime Capital Partners and previous investors in the company.
OTA Insight was founded in London in 2012 by three young Belgians Adriaan Coppens, Matthias Geeroms and Gino Engels, and helps hotels and resorts to optimize their turnover and improve their profitability through the intelligent use of big data.
The cloud platform offers revenue managers around the world real-time access to competitors' price information, trends and insights in the online hotel market. Traveler reviews as well as events and their impact on hotel room demand are included in the data model to proactively adjust price strategies in the short and long term.
The company will use the financing to further develop its platform, with a specific focus on promoting its machine learning and artificial intelligence (AI) capabilities.
In the coming months, OTA Insight will further expand its engineering, sales and marketing teams worldwide to meet the growing demand for its products. The global team of 80 people will be strengthened in 2018 with 50 colleagues. In addition, Michael Treskow, partner at Eight Roads Ventures, will join the board of directors of OTA Insight.