Rateboard brings in €500,000 in seed funding

Rateboard, a startup for revenue management technology, has raised €500,000 in seed funding.

Austria-based Next Floor Venture Capital provided the funds to the company which has developed a cloud-based system for leisure hotels.

Rateboard, which was founded in 2015, has received previous investment of €300,000 via business angels.

Matthias Trenkwalder, co-founder and managing director of the startup, says the funds will be invested in expanding the business.

The B2B hotel tech space is gaining a lot of attention from both established players and startups.

It is seen as relatively untapped by many with a report in 2015 from STR Global estimating that fewer than 10% of properties are using revenue management technology.

Expedia launched its Rev+ revenue management tool last September while Priceline’s Booking.com has been steadily developing its BookingSuite segment.

Smaller, and newer, players on the scene include PriceMatch which received $9 million in funding in 2015, LodgIQ which raised $5 million last year and HotelSoft, which raised $3 million also in 2016.

Meanwhile, Snapshot which seeks to help hoteliers make better decisions based on data, raised €25 million in July 2015.

A further tranche of companies in the field includes IDeaS, Duetto which has raised more than $50 million in recent years and Rainmaker, which recently made $300 million from the sale of its real estate technology.

With so much startup activity and funding around as well as the circling of the global distribution giants, consolidation will likely be on the cards in the coming months.

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