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Duetto, a revenue strategy platform, has announced the largest ever non-acquisition investment in a software company serving the hotel industry.
The company has closed $80m (£56.9m) of Series D financing led by funds affiliated with Warburg Pincus, a leading global private equity firm focused on growth investing.
Duetto was founded in 2012 by CEO Patrick Bosworth, chief marketing and strategy officer Marco Benvenuti and chief technology officer Craig Weissman, the former CTO at Salesforce.com.
The company’s flagship software-as-a-service (SaaS) application, GameChanger, enables hotel companies to independently price all distribution channels, customer segments, room types and stay dates in real time.
Duetto, headquartered in San Francisco and with offices in Las Vegas, Cleveland, London and Singapore, serves more than 2,500 hotels and casinos in more than 60 countries.
Bosworth commenting on the investment said: “As the pace of change has accelerated and the threats of digital disruption have grown, so have our efforts to help this industry we are so passionate about.
“We are pleased to have the support of Warburg Pincus, whose extensive experience in building SaaS businesses of scale will help drive our growth and provide solutions to more hoteliers worldwide.
“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 personalisation to consumers.
With the new investment Duetto’s backers now include Warburg Pincus, Icon Ventures, Accel Partners, Battery Ventures and Spectrum 28.
