Operto raises US$25m in Series B financing round
Canada: Smart device automation and SaaS software, Operto Guest Technologies, has secured US$25 million in a Series B funding round.
The financing round was led by specialised growth equity firm Centana Growth Partners, with participation from Thayer Ventures, FUSE, Blackpines Capital Partners and Derive Ventures.
Proceeds from the round will be used to further fuel Operto’s aggressive expansion in the global short-term rental and hotel markets, where it already works exclusively with Accor Hotels to power its global digital key program. This includes luxury hotel brands such as Fairmont and Raffles, where Operto’s revolutionary contactless digital solutions can be leveraged to remove common friction points in the guest journey, while lowering operating costs and driving new sources of revenue for the hotel.
Operto CEO Steve Davis said: “We are delighted to announce our B-round funding, which will enable us to build upon our exceptional company growth over the past three years. It will accelerate our company mission to build cutting-edge technology solutions that drive amazing guest experiences, across the entire accommodation spectrum.
“In addition, our solutions will continue to deliver huge operational efficiencies for property owners and hosts by lowering costs and driving additional in-stay guest revenues, which is becoming increasingly important in today’s macroeconomic environment.
“Hospitality is one of the last major industries to be disrupted by technology, and we believe there is a significant opportunity to bring the benefits of simple, affordable automation to the sector. We are excited about the future, and we look forward to making a real difference to the accommodation industry,” he added.
Eric Byunn, co-founder and partner at Centana Growth Partners, said: “Operto is leading the digital transformation of the hospitality industry by creating a seamless, automated check-in and check-out experience for its customers. Centana has been following the digitisation of the hospitality industry closely, and we are very excited about this sort of disruption streamlining the experience of owners, hosts, and guests.
“We will leverage our expertise in the payments and commerce ecosystem to work with Operto as they continue to innovate in an industry with such enormous potential,” he added.
In addition to the funding announcement, Operto has announced the appointment of Sam Shank, former CEO and founder of HotelTonight and head of Airbnb’s commercial team, to the company’s board of directors.
Shank said: “Operto’s cutting-edge technology solutions are reshaping the hospitality industry, and I am excited to be a part of the journey. I look forward to working with the team to help drive growth and innovation.”
Operto’s automated, customisable platform is designed to enable hotels, property managers and others to remotely provide access as well as monitor and control a wide range of devices and systems, including smartphone-enabled guest verification, security deposit and payment, electronic elevator and room access. By providing property managers with real-time data and insights, the company aims to help streamline operations, reduce costs and enhance the guest experience.
Moving forward, Operto is looking to expand into new markets and continue delivering innovative solutions for property managers.
Last February, Operto raised US$12 million in Series A funding, and in November, it acquired STAYmyway, a Spanish smart hospitality technology company.