Global private equity major Warburg Pincus has led an $80m Series D financing round for hotel and hospitality software platform provider Duetto.
Duetto said the round is the largest ever non-acquisition investment in a software company serving the hotel industry.
The company was founded in 2012 by CEO Patrick Bosworth, chief marketing and strategy officer Marco Benvenuti and CTO Craig Weissman (pictured), the former CTO at Salesforce.com.
Its flagship software-as-a-service aplpication aims to enable hotel companies to independently price distribution channels, customer segments, room types and stay dates in real time.
Warburg managing director Ashutosh Somani said, “Duetto has established itself as the market leader in the hotel revenue management space, providing its customers with next-generation solutions to optimize demand, maximize rates and minimize costs.
“With its strong domain experience and deep cloud SaaS technology leadership, Duetto is uniquely positioned to bring new capabilities to the hospitality industry. We look forward to supporting Patrick and the Duetto leadership team in their next chapter of growth.”
Duetto is also backed by Icon Ventures, Accel Partners, Battery Ventures and Spectrum 28.
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