TakeUp Raises Series A Funding to Revolutionize Revenue Strategies for Independent Hotels

TakeUp Secures Series A Financing

TakeUp, a pioneering platform that leverages artificial intelligence to optimize revenue for independent hotels, has successfully completed a Series A funding round totaling $11 million, led by 1848 Ventures. The innovative firm aims to completely transform how smaller hospitality brands attract customers, close sales, and maximize revenues through a cutting-edge AI-driven revenue engine that continually adapts to changing market conditions.

Despite the rapid technological advancements in the hospitality sector, independent hotels and smaller brands continue to lag in adopting modern revenue management tools. A staggering 92% of these properties still rely on outdated manual pricing methods, leading to a potential revenue loss of over 30% annually as they struggle to compete against larger hotel chains with extensive analytics teams.

TakeUp addresses this issue by utilizing complex causal inference AI models that autonomously adjust pricing based on guest behavior and real-time market data. The platform conducts around 38,000 micro-analyses daily, allowing it to learn pricing performance across various periods, booking channels, and customer segments. By offering sophisticated tools at a price point approachable for smaller businesses, TakeUp grants independent hotels the insights typically reserved for large brands with significant resources.

Bobby Marhamat, the CEO of TakeUp, emphasizes the importance of democratizing access to AI technologies across the industry, stating, *“We’re tearing down the walled garden and democratizing the landscape by giving our customers transparent, automated tools to win.