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Belgium – Otamiser has raised $3 million in its first funding round. This is the first ranking management platform for online travel agencies [OTAs].
The raise was led and managed by Pitchdrive Venture Capital, under the leadership and expertise of Wim Derkinderen and Boris Bogaert. Pitchdrive is a venture capital firm that invests early in technology startups across a variety of sectors. This includes hospitality technology.
Otamiser will use the new capital to expand its commercial team and reach 1,000 hotels and 100,000 short term rentals in different countries. The platform is currently used by more than 76 hoteliers, and a list of property management companies in nine countries with a total of over 10,000 units.
Otamiser helps property managers and hoteliers increase their revenue by achieving higher OTA rankings, and using an innovative approach to revenue-management. Since its founding in 2022, Otamiser has shown notable growth. It reached an annual recurring revenues [ARR] [$1.9 million] of EUR1.8million [$1.8 million USD] while expanding to a global team of 32 employees, all without any external capital.
Its solution combines revenue management and OTA ranking optimization, ensuring properties achieve top positions on OTAs whilst meticulously managing prices in order to unlock the full value of each room. Otamiser’s customers have seen their occupancy rates rise by an average 11 percent and their profits increase by 24 percent.
Otamiser is a team of five entrepreneurs. Korneel Defauw, co-founder, CRO and a management group including Lucas Ballyn, CTO, Nils Casteur, CCO and Jarne vancompernolle, COO, support CEO Bart-Jan Leyt.
Bart-Jan Leyts is the founder and CEO of Otamiser. He said: “This increase is a testament to both our innovative approach and market demand for our platform. Booking.com and Airbnb are the most popular platforms for bookings, but direct booking websites still play a role. Hoteliers and property managers are eager to improve their ranking on OTAs.
“With this new capital we will enhance our existing Otamiser tools and launch a new AI driven product for Airbnb operators. We will also expand the commercial team in order to quickly capture market share.
“We are determined to transform how the hospitality industry leverages the online booking platforms.” We’re in a great position to expand our international reach with Pitchdrive VC, our partner.
Pitchdrive VC is a group of investors that includes Stijn Christiaens (co-founder of Collibra), Jacob Quartier (formerly of Showpad), Peter van Praet (founder of Bavet), Viktor De Maertelaere, of the Hospitality House Hotel chain, Lorenz Bogaert serial entrepreneur and founder of Netlog and StarApps, and Jorn Vanysacker & Gilles Mattelin, the dynamic duo of startup wonder Hench
Wim Derkinderen (co-founder of Pitchdrive VC) said: “From our first contact with Otamiser we realised the potential this team has. Their vision, drive and execution power [almost 2 million ARR achieved fully bootstrapped] are very rare and extremely promising. They are in a huge market with a lot of upward potential.
“Pitchdrive not only led the first funding round for Otamiser, but we are also excited to support the company into the next stage of growth.”
Korneel Deauw, CRO and co-founder of Otamiser said: “Having a website was enough for hospitality, but now if you do not rank high, it could be the end of you. You will be stuck with low occupancy and rates. Around three-quarters (75%) of bookings on OTAs are claimed by the top fifteen listings. This is why good positioning, and a high ranking, is essential for any operator or property manager.
By securing the top spots, our customers have a better chance of attracting more bookings. This will increase their revenue. The market is so competitive that this strategic advantage has become a top priority for everyone,” he said.