Growth equity fund Providence Strategic Growth has provided $50m in series B funding for SevenRooms, a guest experience technology developer backed by e-commerce firm Amazon and mass media group Comcast.
SevenRooms has built customer relationship management (CRM) software that enables hospitality operators such as hotels, restaurants or nightclubs to analyse customer data in order to engage more effectively with guests and hopefully increase profits.
Joel Montaniel, SevenRooms’ co-founder and CEO, said: “With our latest fundraise, we have positioned SevenRooms with the right resources and partner to empower operators worldwide to do more with less, increasing loyalty, revenue and profitability while helping operators make their guests feel at home.
“We are excited to continue innovating as the only 360-degree guest experience platform available on the market today that addresses every aspect of the guest journey, powered by a purpose-built CRM, robust operational tools and an automated marketing engine.”
The investment by Providence Strategic Growth, an affiliate of private equity firm Providence Equity Partners, comes after SevenRooms closed a round featuring Amazon at $9.7m in January 2019, according to a securities filing.
The company had raised a total of $16.4m as of an $8m round led by Comcast subsidiary Comcast Ventures in 2017, adding to earlier funding from backers such as Box Group, the Handwerker and Merinoff families and assorted individuals.
