Belgium: Hotel sales and operations platform Thynk has completed a $13 million Series A financing round led by European venture capital firm Singular.
Thynk is a cloud-based technology platform that provides hotels with tools to support sales, event management, guest communication, and data insights.
The Series A funding will boost Thynk’s research and development efforts as well as its global expansion. The company’s current clients are present in Europe, America and the Middle East and include hotel brands such as Postillion, Rotana, Groupe Lucien Barrière, design hotelsand Mint.
Pascal Petit, CEO of Thynk, said: “Our rapid success lies in our ability to empower the hospitality industry with a core solution that unleashes agility and business performance, by streamlining sales, operations and finance processes both both at the property and at the business level. .
“Everything we invest in serves our ultimate mission of enabling hoteliers to do more with less, adapt faster to market changes, and focus on what drives higher profit margins. Using this new funding source, our global team is determined to accelerate our ambitious strategies that include further enriching our customer-centric, data-driven revenue operating solution, consolidating our international presence, and empowering more hotel brands, operators, and managers. of assets around the world. world with proven tools to increase both efficiency and revenue.”
Nils Scheers, Thynk COO and co-founder, added: “The hotel industry is now almost back to pre-pandemic levels of performance across all segments. The fluctuating market has been accompanied by increased competition, resulting in more hospitality providers adopting technology to keep pace with streamlining operations at the property, in centralized sales teams and at the corporate level /business.
“With centralized access to real-time revenue and guest analytics, hoteliers finally have an effective, fully automated means of leveraging high-value data that can improve the performance of groups, events, corporate and agency businesses, and much more. Thynk can achieve all of this while preserving a hotel’s unique tone of voice and the type of guest experience they seek to deliver.”
Raffi Kamber, Founder and General Partner of Singular, said: “Since its launch, Thynk has proven to be a powerful asset for industry professionals, as well as a disruptive force that focuses its R&D efforts on technologies that the hospitality industry crucially needed, but previously lacking. As a vertical CRM solution in tune with hoteliers’ desire to eliminate operational silos that get in the way of meeting the highest expectations of guests, Thynk is undoubtedly leading the way to hotel operations that are more agile and able to make informed decisions that maximize guest satisfaction rates. despite changing market conditions.
Angel investor Itai Tsiddon added: “Investor confidence in Thynk clearly demonstrates the tremendous potential the company holds while validating the impressive results Thynk has already achieved for companies in the global hospitality industry.
“With hoteliers looking to modernize their operations and re-drive greater demand for their various service offerings, Thynk with its comprehensive capabilities and flexible vertical solution is sure to be a critical platform giving industry professionals the competitive edge they seek. ”.
