HyperGuest, a leading technology platform for the hospitality industry, announced today that it has successfully closed a $23 million Series A funding round. The round was led by Lightspeed Venture Partners and included Viola Ventures, and new investor Thayer Ventures, a San Francisco venture capital firm specialized in technology for the travel and accommodation industry.
The investment will fuel the company's accelerated growth and further enhance its innovative solutions for hoteliers and travel providers. The significant investment is a testament to HyperGuest's disruptive technology and business model, and its commitment to transforming the way hotels connect and transact with their business partners.
HyperGuest's platform offers a unique and seamless solution that enables hotels and suppliers to directly connect with travel distributors, including Online Travel Agencies, Agents Consortia, Tour Operators, Destination Management Companies, Travel Management Companies, Closed User Groups, Bedbanks, Global Distribution Systems and more. By providing real-time connectivity, HyperGuest empowers hoteliers to optimize their inventory distribution, streamline operations, and increase revenues and margins.
"We are thrilled to announce the successful completion of our Series A funding round," said Nir Yaron, CEO and Co-founder of HyperGuest. “We have achieved a significant milestone of 25,000 live hotels while partnering with over 380 demand customers and more than 150 global technology integrations. This remarkable progress has led to exceptional growth, with both bookings and revenue rising by more than 10X year on year. We are proud of the support of our investors, who share our vision of reshaping the travel landscape."
The company plans to further expand its global footprint, invest in product development, and enhance its technology infrastructure. Additionally, HyperGuest aims to scale its sales and marketing efforts to drive customer acquisition and increase market penetration.
"We are excited about our partnership with the HyperGuest team as they redefine the hospitality industry," said David Gussarsky, Partner at Lightspeed Venture Partners. "Their innovative technology and forward-thinking approach have the potential to disrupt the traditional distribution landscape and empower hoteliers to regain control of their inventory. We are confident in HyperGuest's ability to drive significant growth and look forward to continue supporting their journey."
The Series A funding round marks a significant milestone for HyperGuest and sets the stage for the company's ambitious expansion plans. With a strong foundation and a dedicated team, HyperGuest is well-positioned to transform the hospitality industry and create a more efficient and transparent ecosystem for hoteliers, suppliers, and travel distributors.
“When looking at new investments, market-proven innovation with disruptive potential is our holy grail”, said Chris Hemmeter, Managing Partner at Thayer Ventures. “Distribution is a long-term problem for hoteliers and travel companies alike, and HyperGuest’s platform delivers a unique solution that removes all barriers for doing business.”
About HyperGuest:
HyperGuest is a leading technology platform that revolutionizes the hospitality industry by providing a direct and seamless connection between hotels, suppliers, and travel distributors. With real-time connectivity, HyperGuest empowers hoteliers to optimize inventory distribution, streamline operations, and increase revenue. The company's innovative solution enables hoteliers and travel providers to take control of their connectivity and drive more direct bookings.
For more information, please visit www.hyperguest.com.
About Lightspeed:
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, FTX, Guardant Health, Mulesoft, Netskope, Nutanix, Rubrik, Sharechat, Snap, TripActions, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $18B across the Lightspeed platform, with investment professionals and advisors in the U.S., China, Europe, India, Israel, and Southeast Asia. www.lsvp.com.
About Viola Ventures:
Viola Ventures is an early-stage fund dedicated to building global category leaders out of Israel. Founded in 2000, Viola Ventures has backed over 100 technology companies and stands with a disproportional share of Israel’s successful public listings and M&As. The fund manages over $1.3B and has backed some of Israel’s outliers such as ironSource (acquired by Unity), Payoneer, Redis, Verbit, Lightricks, Outbrain, Immunai and Pagaya.
The fund is part of Viola, Israel’s leading tech investment group with over $5B AUM. www.viola.vc.
About Thayer Ventures:
Founded in 2009, Thayer Ventures has built the preeminent venture platform for travel and transportation entrepreneurs to leverage unequaled counsel from our experienced team, strategic LPs, industry-leading advisors and the entire Thayer portfolio ecosystem. www.thayerventures.com.
Contact:
Enzo AIta, VP of Marketing
HyperGuest
Email: enzo.aita@hyperguest.com
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