Stanford University has helped the hotel property management system developer complete a series A round that will support Asian expansion.
US-based hotel technology producer StayNTouch has closed a $9.5m series A round co-led by business travel management system operator Concur and Shiji, a Hong Kong-based supplier of IT services to the leisure industry.
Concur participated through its Perfect Trip Fund, and the round also included venture capital firm Triangle Peak Partners, Stanford University and startup accelerator Acceleprise.
StayNTouch’s cloud-based property management systems streamline staff operations and enable guests to use their smartphone to check in or out, view their room bill or access promotional offers.
The company’s clients includehotel chains MGM Resorts International and Yotel, as well as Miami Beach resort Fontainebleau. The capital was secured as StayNTouch aims to consolidate growth in Europe and the US and expand into Asia.
The series A funding follows $1.6m in a 2013 seed round led by Concur Perfect Trip Fund with backing from Acceleprise.
Mike Eberhard, president of global distribution at Concur, and Kevin King, chief operating officer of Shiji Group, will join StayNTouch’s board of directors in conjunction with the round.
– This article was first published by our sister site Global Corporate Venturing.
