US: Los Angeles-based hospitality technology company Jurny has announced that it has raised an additional $9.5 million in an investment round led by Mucker Capital, with a portion of the funds being utilised to accelerate the global expansion of its latest product offering – Jurny Virtual.
The new offering provides a simplified, fully-connected tech stack by seamlessly integrating and connecting most major channel management [CMS], point of sale [POS], room management [RMS], facility management [FMS], marketing and smart home tech solutions in one, easy-to-navigate operator dashboard.
Luca Zambello, co-founder and CEO of Jurny, said: “Our mission is to help small- to medium-sized operators and hotel owners access a premium ecosystem that offers the benefit of economies of scale, not yet available to even some of the world’s largest hotel chains. Jurny Virtual is revolutionising the industry by providing a premier service at a much lower cost, including time, without requiring an upfront investment.”
Erik Rannala, co-founder and managing partner at Mucker Capital, said: “Operators using Jurny’s best-in-class tech are seeing, on average, a 20 per cent increase in revenue, 50 per cent decrease in overhead costs and two times net operating income [NOI] within the first 30 days of implementation. These numbers are unmatched in the industry and illustrate that Jurny and its customers are positioned to dominate the global hotel, short-term and vacation rental management market.”
Jurny Virtual is designed to provide property managers and hotel owners with a comprehensive solution to automate and streamline operations. In addition to the tech stack, the company offers additional services, such as 24/7 inquiry support and virtual concierge, access control, guest screening, review management and accounting.
David Phillips, co-founder and president of Jurny, said: “The unpredictable global events that unfolded over the past 18 months have undoubtedly changed the travel landscape forever, leaving in its wake an unprecedented number of property owners and operators struggling to recover losses and grappling with the complexities of change in the marketplace. Designed to help independent lodging operators and management companies navigate the shifting market demands, Jurny Virtual provides a single, affordable and easy-to-implement solution for the tools and technology required to compete and thrive in today’s rapidly evolving environment.”
The company’s vertically integrated model is designed to address redundancies, reduce overhead and increase profits for stakeholders. In the past year, Jurny has more than doubled the number of units under its platform with a growing presence in major cities across the globe.
The latest round brings Jurny’s total investment raised to date to $12.45 million.