Fornova Partners with A/O Proptech in Latest Funding Round to Develop HotelsBI Offering
Fornova partners with leading European property technology investor A/O Proptech (A/O) as part of its latest funding round, which A/O led. This partnership will see A/O become a design partner for Fornova’s recently acquired HotelsBI offering. DTCP and other main investors continue to back the technology firm.
Fornova, the global provider of distribution and business intelligence solutions for the hospitality sector, announced a major design partnership with A/O Proptech (A/O), a leading European proptech investor, to collaborate on its HotelsBI solution. DTCP participated in the $7 million funding round led by A/O, while Fornova’s other main investors, JAL Ventures and Forestay Capital, continue to back the technology firm.
As per the press release, "A/O will roll out Fornova’s HotelsBI platform into its strategic hotel portfolio of around 150 hotels across Europe. The agreement will provide valuable insight into how hotels use and benefit from the tool as well as informing future enhancements of the performance and guest intelligence solution. A/O will benefit from the platform by receiving real-time, segmented data across its hotel portfolio rather than historic reports.
“We’re excited to support Fornova’s vision and potential and look forward to partnering with them both as an investor and a customer. Fornova has already demonstrated an impressive track record of working with some of the world’s largest brands, some of which are part of our strategic portfolio.
"Fornova acquired HotelsBI in March this year. The platform maximises hotel performance by collating data from multiple sources into one place. Revenue generating teams have a single source of real-time insights from which to quickly identify actions. The tool also includes in-depth guest intelligence ensuring that sales, marketing, and other activity are highly targeted and personalised."
At the time of the announcement, Fornova already worked with some of the biggest names in the hotel industry and its software was currently used by thousands of hotels globally. Established in 2010, the company’s growing team had 150 talented people across offices in London, New York, Amsterdam, Israel, Belarus, and Ukraine.
More information on DTCP’s investment can be found here:
DTCP leads Fornova investment round.
Read the full press release.