Belgium: Hotel sales and operations platform Thynk has completed a $13 million Series A funding round led by European venture capitalist firm Singular.
Thynk is a cloud-based technology platform which provides hotels with tools to support sales, event management, guest communication and data insights.
The Series A funding will fuel Thynk’s research and development efforts as well as its global expansion. The company’s current customers are present in Europe, America and the Middle East and includes hotel brands such as Postillion, Rotana, Groupe Lucien Barrière, Design Hotels, and Mint House.
Pascal Petit, CEO of Thynk, said: “Our rapid success lies in our ability to empower the hospitality industry with a core solution that triggers business agility and performance, by streamlining sales, operations, and finance processes both on property and at an enterprise level.
“Everything we invest in serves our ultimate mission of enabling hoteliers to do more with less, to adapt faster to market changes, and to focus on what leads to higher profit margins. Using this newest source of funding, our global team is determined to accelerate our ambitious strategies which include further enriching our data-driven and customer-centric revenue operating solution, solidifying our international presence and empowering more hotel brands, operators, and asset managers around the world with tools proven to boost both efficiency and revenue.”
Nils Scheers, Thynk’s COO and co-founder, added: “The hospitality industry is now almost back to pre-pandemic performance levels across all segments. The fluctuating market has been accompanied by an increase in competition, resulting in more hospitality providers embracing technology to keep pace with the optimisation of operations on property, in centralised sales teams and the corporate/enterprise level.
“With centralised access to real-time revenue and guest analytics, hoteliers finally have an effective and fully automated means of tapping into high-value data that can enhance the performance of group, event, corporate and agency-based business and much more. Thynk can achieve all this while preserving a hotel’s unique tone of voice and the type of guest experience they seek to offer.”
Raffi Kamber, founder and general partner at 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 hotel industry crucially needs but was previously lacking. As a vertical CRM solution in tune with the desire of hoteliers to eliminate operational silos standing in the way of addressing higher guest expectations, Thynk is undoubtedly leading the way to hotel operations that are more agile and capable of making informed decisions that maximise guest satisfaction rates, despite changing market conditions.”
Angel investor Itai Tsiddon added: “Investor confidence in Thynk clearly demonstrates the tremendous potential that the company possesses while validating the impressive results that Thynk has already achieved for businesses across the global hospitality industry.
“With hoteliers yearning to modernise their operations and get back to driving increased demand for their various service offerings, Thynk with its comprehensive abilities and flexible vertical solution is sure to be a critical platform that will provide industry professionals with the competitive edge they seek.”
