Amsterdam-based hotel software startup Oaky completes €2M seed funding

Amsterdam-based hotel software startup Oaky completes €2M seed funding

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In general, upselling is a great technique to increase the hotel’s growth and profitability. When done right, it can also have a tremendous impact on customer satisfaction. Oaky, one of the Dutch platforms where the company has found innovative and intuitive ways to entice guests to upgrade their stays.

This Amsterdam based hotel software startup, offers a personalised pre-stay upsell platform for hotels and has recently raised €2 million in a seed funding round. As per the official press release, the company will use this fund to move forward with promotion and product development. Series A funding is set to go on until late 2019.

What makes Oaky different?

For years hoteliers have been using upselling to boost incremental revenue, but the existing technology makes it too difficult.As a result, Oaky offers a data-driven solution to this problem, where it can predict which upselling tactics hotels should follow to maximise conversion.

Using the intuitive online dashboard, hoteliers can add guest-facing deals in a matter of minutes, provide offers unique to their property and promote them through perfectly timed e-mail. This results in both a personalised guest experience even during a guest’s first stay as well as a boost in ancillary revenue because the right offers are made to the right guests at the right times. The average Oaky hotel has an ROI of 14x and a deal conversion of 13%.

Founded by Erik TengenLars Jonker and Tako Paddenburg, Oaky’s Upselling platform are used by various hotels like Radisson Hotels, Apex Hotels, Lemon Tree Hotels, Amano Group and StayOkay Hostels.A few days back, Hostelling International, the global non-profit network of youth hostel associations has partnered with Oaky to increase incremental revenue and boost guest experience with targeted upsells.

Oaky’s roadmap for 2019 and beyond!

For further expansion into APAC and the Americas, Oaky’s leadership aims to close Series A funding within six to nine months. Currently, a group of angel investors with a strong background in hotel technology and a range of other verticals are the company’s main backers.

“Last year we hit an inflexion point as we expanded from 15 to 56 countries, increased our monthly recurring revenue by 200%, and reduced gross churn by 8%. Building on our momentum, we feel confident to triple in growth again this year, which means finding new talented members to join our team and expanding our reach into APAC and the Americas,” says Erik Tengen, Co-Founder at Oaky.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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