Startup gets $2M seed to help small hotels compete with big chains
Oct 24, 2017
Singapore-based Zuzu Hospitality Solutions bridges the gap in Asia by providing essential revenue management and marketing services to small hotels while allowing them preserve their own brands.
The Singapore-based startup announced today that it has raised seed funding of $2 million led by Wavemaker Partners, with participation from other Southeast Asian venture capital firms Golden Gate Ventures, Alpha JWC and Convergence Ventures.
Along with angel investments, Zuzu’s seed funding brings its total raised to $3 million. Other backers in this round include Paul Brown, the chief executive officer of Arby’s Restaurant Group and former Hilton president of brands and commercial services, and returning investor Goodman Capital.
Co-founders Dan Lynn and Vikram Malhi left their jobs at major players in the online travel space to launch Zuzu last year. Lynn was HomeAway’s vice president of APAC and emerging markets, while Malhi served as Expedia’s managing director of Asia. Expedia recently invested $350 million in Southeast Asian travel portal Traveloka at a valuation of almost $1 billion, underscoring the market’s potential.
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