Cultivation Capital Participates in $3.14M Financing Round in Cloudbeds
ST. LOUIS (MO) July 13, 2016 – Cultivation Capital, a St. Louis-based venture capital firm, is pleased to announce an investment in Cloudbeds, an all-in-one browser-based hospitality management software system for booking and operation that simplifies the working life of hoteliers.
Cloudbeds has completed a $3.14 million round of financing to accelerate growth in sales and marketing. EON Capital, Moore Venture Partners, Seed San Diego and Joe Maxwell, Cultivation Capital FinTech Growth Fund, participated alongside Cultivation Capital in the round.
“Cloudbeds’ software streamlines the data and statistics that matters most to hoteliers,” said Cultivation Capital General Partner, Barry Sandweiss. “Their traction and reputation in the hospitality SaaS sphere is promising and we are excited to contribute to their growth.”
Hotels lack sophisticated analytics – data and stats that matter, and it is difficult to optimize business operations without a strong data driven strategy. To address these needs, Cloudbeds provides a streamlined software package with operations dashboard, ecommerce solutions, payment management tools, and big data analytics. The suite of hospitality software includes a customizable property management system, commission- free booking engine that embeds directly on a hotel’s website or social media page, and a channel manager to distribute real-time room inventory to consumers and travel agents worldwide via 2-way application program interface (API).
“Cloudbeds’ unique ability to organize a hotels’ booking, inventory and customer service though our suite of software make us the industry leader for hotel management software systems,” said Cloudbeds Founder & CEO Adam Harris. “We are excited about the progress and feedback we have received and believe our technology is poised to disrupt the industry.”
Traditionally, hoteliers had to buy expensive software and hardware that grew outdated as soon as it was purchased. Cloudbeds disrupts this traditional way of making hotel software by providing theirs as a service, giving hoteliers a much lower cost of entry and providing them with constant upgrades and new features.
Myfrontdesk is the flagship of Cloudbeds’ suite of hospitality management software. Myfrontdesk is a property management system that helps hoteliers manage every aspect of their properties’ operations–from check-ins and check-outs, to housekeeping. It’s cloud-based and mobile optimized, making it convenient for hoteliers to use from any Internet connection around the globe.
Hoteliers can connect to over 300 distribution channels using myallocator as part of the full suite of software. Myallocator both pushes and pulls inventory, allowing hoteliers to enjoy full, seamless integration with online travel agencies (OTAs) like booking.com and Expedia. Myallocator also connects to more niche and obscure marketing channels than any other channel manager in the industry, giving hoteliers access to new, previously untapped opportunities.
The suite is completed by mybookings–a commission-free, mobile optimized booking engine for hotel websites and Facebook pages–and mygroup–an online booking portal for hotel and association groups that supports all of their properties.
Cloudbeds creates browser-based hospitality management software that simplifies the working life of hoteliers. Cloudbeds’ award-winning software is trusted by thousands of hotels, hostels, and groups in over 115 countries. With over 300 integrations, Cloudbeds connects to more marketplaces than any software in this industry. Cloudbeds has offices in San Diego, São Paulo, and Dublin. For more information, please visit www.cloudbeds.com