A vertically integrated hotel software, brand, and management company, Life House, which is one of the fastest developing hotel companies has announced the raising of $60 million in its series C round of funding.
This brings the company’s total raised to over $100 million since its inception of the company.
New investors KAYAK and Inovia Capital led this round with the support of existing investors Tiger Global, JLL, Derive Ventures, Trinity Ventures, Cooley LLP, Sound Ventures, and others.
About Life House Company
Life House was started by Rami Zeidan in 2017. Before this, Zeidan collected fine experience from several different hotel industries for over a decade.
The New York-headquartered company was initiated with the aim of developing its own software for the hotel brands and operators for independent hotels with the mission of becoming the best operator.
The company’s main focus is on increasing profitability and reliability for independent hoteliers.
In North America, more than 50 hotels are under operation, which is powered by Life House’s software platform, which has increased the profitability in a consistent way by nearly 200 percent and also the net revenue by 45 percent.
The founder and CEO of Life House said that they have always been on the mission of constructing operationally autonomous hotels by developing software that makes hotels easy to operate and maximally profitable as per life house 60m series Kayak capital azevedotechcrunch.
He further added that after noticing the effects and results of the powerful software on the managed hotels of their own, they get excited to magnify the impact by sharing it more broadly with other hotel owners who are also independent and are underserved by the existence of today’s solutions.
The software platform of the company uses the great API first product in the market in the formation of a comprehensive platform for the central business functions and today the core system power of the company are revenue management, financial operation, and property operation.
Rami also believes that the fact that the life house is a
Objective Behind the Fundraising
The plan and strategy behind raising this series C round’s fund is-
- To continue the construction of a market-leading hotel management platform that is also a cloud-based platform.
- To grow and improve its white-label management platform.
- To go towards large hiring, particularly in the fields of software development, product folks, and engineers.
- Also wants to build its scale organization.
Chris Arsenault, Inovia Capital’s Partner said that for over a decade, Inovia has been investing in disruptive technology business in hospitality and has developed deep domain expertise in the space.
The platform created by Rami and the team has impressed them, which is building to empower the owners of independent hotels to make them able to compete globally.
The CEO of KAYAK, Steve Hafner said they are reimagining the experience of hotels with Life House as their software and operation partners.
He added that their investment will help in accelerating the innovation and expansion of hotel initiatives of KAYAK.
Rami Zeidan said, “ initially the company is focused on the hotels with small and medium sizes whose owners are particularly underserved and represent half of the entire market but always plans to develop out of that in good times.”
Conclusion
Life House, the hotel innovator raised $60 million in series C led by KAYAK and Inovia Capital with the participation of existing investors Tiger Global, JLL, Derive Ventures, Trinity Ventures, Cooley LLP, Sound Ventures, and others.
The company aims to grow and improve its white-label management platform and to go towards large hiring in different fields. Life House is preparing the stairs to be the future of hotel management.
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FAQs
Ans. KAYAK and Inovia Capital with the participation of existing investors Tiger Global, JLL, Derive Ventures, Trinity Ventures, Cooley LLP, Sound Ventures, and others.
Ans. Rami Zeidan.
Ans. In New York.
Ans. $60M.
Ans. It is a brand and management company that provides vertically integrated hotel software.
