Funding Secured for Artificial Intelligence Firm Focused on Financial Revenue Enhancement
TakeUp Secures $11 Million in Funding to Democratize AI-Powered Revenue Management for Small Hospitality Brands
TakeUp, an AI-based revenue optimization platform designed for independent accommodations, has secured $11 million in Series A funding led by 1848 Ventures. The funding will be used to enhance how small hospitality brands drive demand and maximize revenue using adaptive causal inference AI.
TakeUp aims to expand into AI-powered demand generation and conversion products, offering independent accommodations tools to optimize the entire guest revenue journey and compete effectively against larger brands.
According to Bobby Marhamat, CEO of TakeUp, the platform's real-time dynamic pricing and dedicated support help make smarter pricing decisions faster, leading to increased revenue. By pairing each property with a dedicated revenue strategist, TakeUp helps independent accommodations optimize pricing and compete effectively in the market.
The platform performs over 38,000 daily micro-analyses to fine-tune pricing based on actual guest behavior, providing insights typically available only to larger brands. Doug Bagnasco, Owner of Devonfield Inn, expresses that the independent hospitality space has been underserved, and TakeUp's smarter tools and bold execution are giving smaller hotels a fighting chance in the market.
Users experience on average a 20% revenue increase and save up to 15 hours weekly previously spent on manual rate management, enabling them to focus more on guest experience. Kal Amin, managing partner at 1848 Ventures, endorses TakeUp's work in arming the independent hospitality industry with smarter tools. The company has seen its customer base grow by over 300% in the past year.
The goal is to give operators greater control over the guest revenue journey. By uncovering actionable data insights, automating pricing decisions, and delivering expert support, TakeUp empowers small hospitality brands to overcome the challenges of manual pricing, improve competitiveness, increase topline revenue, and regain valuable operational time.
[1] TakeUp - www.takeup.ai
[2] TakeUp Raises $11M to Democratize AI-Powered Revenue Management for Small Hospitality Brands (TechCrunch) - techcrunch.com
[3] TakeUp Secures $11 Million in Series A Funding to Democratize AI-Powered Revenue Management for Small Hospitality Brands (PR Newswire) - prnewswire.com
[4] How TakeUp's AI-Powered Revenue Optimization Platform Helps Small Hospitality Brands Compete (Forbes) - forbes.com
- The funding secured by TakeUp will be utilized to develop AI-powered demand generation and conversion products, aiming to compete effectively against larger brands in the business sector by providing smaller hospitality brands with smarter tools enabled by artificial intelligence and technology.
- With the implementation of adaptive causal inference AI, TakeUp plans to expand its services to assist independent accommodations in optimizing the entire guest revenue journey, leading to increased revenue and offering a more competitive edge in the finance and investing realm.
