“The predominant traveler today was born in an age where they are very comfortable with technology,” Harman Singh Narula, Canary Technologies co-founder and CEO, said.
Narula started Canary Technologies with longtime friend SJ Sawhney to provide that technology so hotels can offer better guest experiences, augmented by technology.
Today, the hotel guest management technology company’s platform digitizes the hotel guest journey from post-booking through checkout with tools that manage mobile check-in/checkout, registrations, upsells, guest messaging and digital tipping.
Canary now works with over 20,000 hoteliers globally at brands like Marriott International, Four Seasons, Choice Hotels, Wyndham Hotels & Resorts, Rosewood and Intercontinental Hotel Group.
Though he didn’t give a specific valuation, Narula did say the valuation has now more than doubled since the company’s $30 million Series B round in 2022.
Mews, one of the startups building tools to help hotels manage IT better is announcing a growth round of $110 million to capture more business.
The funding — led by Kinnevik — is coming in at a $1.2 billion valuation post-money.
That is a slight up-round on the Series C that Amsterdam-based Mews announced at the end of 2022, when Mews raised $185 million on an $865 million valuation.
It said it now has more than 5,000 hotel customers, compared to 3,253 hotels a year ago.
Mews nominally looks after hotels and hospitality, but that could be hostels or Airbnbs or services for people in mixed-use real estate.
Historically, vacation rental companies have managed homes for homeowners.
Overmoon is a three-year-old vacation rental startup with a different model that essentially cuts out the middle man.
But Fraiman doesn’t believe that so many proptech companies are failing because of high interest rates.
“I think the inability to raise capital is the real reason and interest rates are a contributing factor,” he said.
Plus, higher interest rates means fewer buyers out there, which means less competition.
With a $13 million Series A round in hand, Thynk seems to be well on its way to building the definitive enterprise software solution for the hospitality industry. The startup…
