19/3/2019 – The series A funding was led by Wavemaker Partners with other existing investors including Golden Gate Ventures, Convergence Venture, and Alpha JWC Ventures. New investors joining the fund includes Access Ventures and Line Ventures.
Zuzu is a Singapore based ‘yield management solution’ for hoteliers. The company provides outsource yield management solutions to raise the revenue of their clients by leveraging a unique pricing strategy that automatically adjusts the cost of rooms by predicting consumer behaviour.
By providing a service model that includes both the tech solution and the operations, the company can deliver an increase of up to 30% in online revenue for their clients.
Zuzu co-founder Dan Lynn said “Zuzu is now the only complete outsourced yield management solution for independent hotels. Rather than dropping a piece of software on a hotel and expecting them to figure it out for themselves, we provide both the software and the service.”
“We let hoteliers outsource their yield optimisation so they can focus on hospitality and delivering a great experience day to day. We are also the only partner of independent hotels that delivers revenue upside for them, making us true hotel partners for the long term.” Lynn adds.
The company has appointed veterans in the industry to lead their APAC expansion. Jake Coleiro as Country Manager for Australia; and Prae Wattanalapa as Country Manager for Thailand
Zuzu co-founder Vikram Malhi said, “Zuzu is very excited to have Jake and Prae on board to lead our growth in Australia and Thailand. They have a proven record of furthering the online ambitions of hotels and will ensure we deliver a locally relevant solution for yield management in these markets.”
Founded in 2016, the company had raised US$1M from angel investment followed by US$2M in seed round funding back in August 2017.
Currently, Zuzu has operations in three APAC countries Indonesia, Taiwan, and Singapore.
This news is published on Reuters.