Worldwide: Life House has raised $60 million in Series C funding, led by new investors KAYAK and Inovia Capital, to begin selling its software platform to hoteliers.
Investors Tiger Global, Derive Ventures, JLL, Trinity Ventures, Sound Ventures, Cooley LLP, and others participated in the funding round too.
Life House plans to use the investment to build a cloud-based hotel management platform to sell directly to hoteliers and operators. It is designed to be a one-stop-shop for any independent hotel owner with any size hotel. The company is initially focused on small and medium sized hotels before expanding further afield.
The group is both hotel manager and software developer, and currently manages the operations of more than 50 hotels in North America. Rami Zeidan, founder and CEO of Life House, explained: “We’ve always been on the mission to build operationally autonomous hotels by developing software that makes hotels maximally profitable and easy to operate. After seeing the results of our powerful software on our managed hotels, we’re excited to increase our impact by sharing it more broadly to other independent hotel owners who are underserved by the solutions that exist today.”
Three core systems will power the platform: revenue management, financial operations, and property operations.
Chris Arsenault, partner at Inovia Capital said: “Inovia has been investing in disruptive technology businesses in hospitality for over a decade and we’ve developed deep domain expertise in the space. We were impressed by the platform Rami and the Life House team are building to empower independent hotel owners to compete globally, and we are excited to support them in their next phase of growth.”
Steve Hafner, KAYAK CEO, said: “We’re reimagining the hotel experience with Life House as our software and operations partner. Our investment will help accelerate innovation and the expansion of KAYAK’s hotel initiatives.”
Earlier this year, KAYAK announced its first hotel in Miami Beach in partnership with Life House.