Life House is one of the leading boutique hotel operators that has built its software to help individual hotel operators and owners. It has now raised around $60 million in a series C round of funding. The funding is co-led by the new investor Kayak and Inovia Capital. The company includes several existing investors and welcomes new investors to increase its funds for various reasons. As per life house 60m series kayakazevedotechcrunch
Investors Of The Company:
The company’s existing investors are Tiger global, derive ventures, Thayer Ventures, JLL, Trinity Ventures, Cooley LLP, and Sound Ventures. The financing of these investors helps in the company’s total raise right from its 2017 inception to over $100 million.
A decade of working experience in various hotel industry areas helped Rami Zeidan start Life House, a New-York based company. The company began its journey as a hotel brand and operator for individual hotels by developing its software. The company’s mission is to become the best operator, and its goal is to fix the broken and complex hotel operational model.
The company announces that in addition to capital raise, it states that its software is mature enough and comprehensive to sell directly to global hoteliers and operators who prefer to own the on-site management of hotels. Life House is known for its evolution from a tech-enable hotel operator into a SaaS company.
CEO Zeidan states that in the last fours, they have spent only $20 million, and now they have raised it three times and are excited to see the transformation in products. As per life house 60m series kayakazevedotechcrunch
About The New Investor:
Kayak, one of the leading global travel sites, has become the lead investor in life house. Kayak’s CEO, Steve Hafner, states that his company is planning to reimagine the hotel experience with Life House as being its software and operation partner.
He also states that their investment helps accelerate innovation and expand Kayak’s hotel initiatives. He says their vision is to improve individual hotel operations profitably by accessing better technology.
The Life House is currently managing the operations of around 50 hotels in entire North America. Interestingly, at the time of Life House’s $30 million Series B, branded hotels made up to 50% of their startup’s portfolio. Recently, about 85% of its portfolio is not imprinte Life house but includes third-party hotels using its software with a white-label agreement.As per Life House $60M Series Azevedotechcrunch
Zeidan said to TechCrunch that they are launching the sale of their SaaS products to third-party hotels, which they cannot manage. He also states that the software has consistently increased the hotel’s profitability by over 200% and helped a lot in converting revenues to over 45%.
Growth Of Life House:
The onset of the COVID-19 pandemic led to the growth of Life House to about 600%. It is because the company’s mission is to make it a one-stop solution and make it readily available to anyone to own, create, and operate a hotel regardless of shape and size to attain maximum profitability. The approach helps the owners with revenue management, dynamic pricing, accounting, general operations, and financial reporting.
Zeidan state that hotels have become complicate to operate these days, and they are own by the people and firms just as assets. He also says his primary goal is to deliver profitability and value to the financial investment. He explains that their approach remains profitability-centric by providing a platform so that everything they are selling to hotels directly brings an improvement in profitability. As per life house 60m series kayakazevedotechcrunch
Life House now focuses on small hotels and plans well to grow them in good time. Zeidan states that their software does not care about the guest experience and is suitable for the most luxurious hotels. The strategy is now prove to be helpful despite the kind of hotels.
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