US-based meeting management software provider Groups360 has received $50m in funding from hotel chains Accor, Hilton, InterContinental Hotels Group (IHG) and Marriott International.
Founded in 2014 as Eventa Global, Groups360 has built a search engine called GroupSync which helps event planners find the optimum event space and location for meetings.
The platform also helps hotels generate money through their function rooms, advertising to potential bookers by creating a profile, and managing their timeline of bookings more efficiently.
Kemp Gallineau, president and CEO of Groups360, said: “We have listened to meeting planners and heard their needs. Planners are looking for a simple and seamless experience for booking group rooms, meeting space, and ancillary services. Simple meetings should have a simple solution to make bookings across multiple brands easier.
“We are focused on continuing to enhance GroupSync’s reputation as the “smartest” search and book application available as it makes recommendations to planners based on their preferences and market price predictions from our algorithms.”
The funding will support the hiring of additional sales, marketing and engineering staff, and representatives from all four investors will get a place on Groups360’s board of directors.
The company had previously closed a $5m funding round in 2015 before adding a further $500,000 the following year, according to regulatory filings.
