The Duve team [Credit: Duve]

Duve raises $10m in Series A funding round

Israel: Tel Aviv-based hospitality tech startup Duve has raised $10 million in a Series A round, bringing its total funding to date to $14 million.

After reporting a rapid growth in sales and customers in the last year, the company says that it will use the new funding to invest in expanding the team and supporting further growth, and is opening multiple positions across the entire organisation.

The investment is led by investment firm XT Hi-Tech, which has 80 past investments and more than 30 IPOs and M&As in its portfolio, along with Duve’s existing investors.

Duve’s white-labelled platform enables hosts, property managers, hoteliers and other hospitality professionals to communicate more effectively with guests and upsell services to match their exact needs. It collects details such as the reason of visit, interests, language, type of visit [family / business / romantic], travel method, F&B preferences, allowing professionals to customise and segment guest journeys, as well as build a digital and personalised experience.

Guests arriving at check-in will be able to pay for upsell services such as early check-in, transportation or local activities, and receive a personalised confirmation email, online check-in, guest app, and pre-scheduled messages.

Having been founded in 2016 under the name Wishbox, Duve says that it is setting the bar for the future for hospitality, being more precise and personal with each guest, maximising each guest’s revenue potential, and increasing guest satisfaction, happiness and return rate.

During Covid, the company reported exponential growth after onboarding “thousands” of new vacation rentals, hotels, aparthotels, hostels and more.

Assif Stoffman, managing director at XT Hi-Tech, said: “Duve brings a new, innovative platform into the hospitality industry, offering a wide range of interactive solutions for guest experiences, and allowing hotels and hoteliers to increase their revenue and improve guest satisfaction. Duve has shown a strong product / market fit in a category we see as crucial in the hospitality industry in the years to come.

“We are happy to partner with the team at Duve and believe they are situated in an optimal position to lead the market,” added Stoffman.

Duve CEO David Mezuman said: “We couldn’t ask for better investors who understand our grand vision any better. We see the digital transformation of the hospitality industry happening before our own eyes, and we are sure that in the upcoming years, a digitalised guest experience is going to be a standard in every hotel in the world.

“We are excited to lead the digital transformation of the industry, and provide hoteliers with the tools to create unique guest experiences. We are heading into this journey with our wonderful employees, investors, partners and clients behind us,” he added.

Duve currently serves customers in over 64 countries around the world, and supports more than 120 integration partners across property management systems [PMS], channel managers, property service providers, digital key providers and third-party vendors.

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