HyperGuest Closes Series A Round, Raising $23 Million to Revolutionize the Hospitality Industry
Hotel Marketplace Pioneer Exceeds 10X Year-on-Year Booking Growth Serving over 25,000 Hotels
HyperGuest, a leading technology platform for the hospitality industry, announced today that it has successfully closed a $23 million Series A funding round. The round was led by Lightspeed Venture Partners and included Viola Ventures, and new investor Thayer Ventures, a San Francisco venture capital firm specialized in technology for the travel and accommodation industry.
The investment will fuel the company's accelerated growth and further enhance its innovative solutions for hoteliers and travel providers. The significant investment is a testament to HyperGuest's disruptive technology and business model, and its commitment to transforming the way hotels connect and transact with their business partners.
HyperGuest's platform offers a unique and seamless solution that enables hotels and suppliers to directly connect with travel distributors, including Online Travel Agencies, Agents Consortia, Tour Operators, Destination Management Companies, Travel Management Companies, Closed User Groups, Bedbanks, Global Distribution Systems and more. By providing real-time connectivity, HyperGuest empowers hoteliers to optimize their inventory distribution, streamline operations, and increase revenues and margins.
We are thrilled to announce the successful completion of our Series A funding round. We have achieved a significant milestone of 25,000 live hotels while partnering with over 380 demand customers and more than 150 global technology integrations. This remarkable progress has led to exceptional growth, with both bookings and revenue rising by more than 10X year on year. We are proud of the support of our investors, who share our vision of reshaping the travel landscape. Nir Yaron, CEO and Co-founder of HyperGuest
The company plans to further expand its global footprint, invest in product development, and enhance its technology infrastructure. Additionally, HyperGuest aims to scale its sales and marketing efforts to drive customer acquisition and increase market penetration.
We are excited about our partnership with the HyperGuest team as they redefine the hospitality industry. Their innovative technology and forward-thinking approach have the potential to disrupt the traditional distribution landscape and empower hoteliers to regain control of their inventory. We are confident in HyperGuest's ability to drive significant growth and look forward to continue supporting their journey.David Gussarsky, Partner at Lightspeed Venture Partners
The Series A funding round marks a significant milestone for HyperGuest and sets the stage for the company's ambitious expansion plans. With a strong foundation and a dedicated team, HyperGuest is well-positioned to transform the hospitality industry and create a more efficient and transparent ecosystem for hoteliers, suppliers, and travel distributors.
When looking at new investments, market-proven innovation with disruptive potential is our holy grail. Distribution is a long-term problem for hoteliers and travel companies alike, and HyperGuest’s platform delivers a unique solution that removes all barriers for doing business. Chris Hemmeter, Managing Partner at Thayer Ventures
About HyperGuest
HyperGuest is a leading technology platform that revolutionizes the hospitality industry by providing a direct and seamless connection between hotels, suppliers, and travel distributors. With real-time connectivity, HyperGuest empowers hoteliers to optimize inventory distribution, streamline operations, and increase revenue. The company's innovative solution enables hoteliers and travel providers to take control of their connectivity and drive more direct bookings. For more information, please visit www.hyperguest.com.
About Thayer Ventures Acquisition Corporation
Thayer Ventures Acquisition Corporation is a newly formed blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the "Business Combination"). While the Company may pursue an acquisition opportunity in any industry or sector, it intends to focus on the travel and transportation technology sectors, which align with the background and investing experience of the Company's management team.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for a Business Combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and prospectus filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contact
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