By Lea Mira - HTN staff writer - 7.2.2024
Belgium-based technology solution provider Otamiser has raised $3 million USD in its initial funding round to advance its online travel agency (OTA) ranking management platform. The funding aims to enhance Otamiser’s software, which is designed to improve property rankings on major travel platforms such as Booking.com, Expedia, and Airbnb.
Founded in 2022, Otamiser focuses on helping hoteliers and property managers optimize their listings on OTAs to maximize bookings and revenue. By integrating with platforms like Cubilis (Stardekk) and Hostaway, Otamiser provides a solution that connects revenue management with OTA ranking optimization. This integration aims to help properties secure top positions on OTAs while managing prices effectively.
The company currently facilitates 50,000 reservations weekly and plans to scale this number to 500,000 within the next two years. According to Otamiser, its customers have experienced an average increase of 11% in occupancy rates and a 24% rise in profits. The platform is designed to leverage OTAs to their full potential, thereby enhancing revenue streams for its users.
The recent funding round was led by Pitchdrive VC, an early-stage venture capital firm specializing in technology start-ups across various sectors, including hospitality technology. The leadership of Wim Derkinderen, Boris Bogaert, and Koen Christiaens from Pitchdrive VC played a role in securing the investment.
Otamiser reportedly plans to use the new capital to expand its reach to 1,000 hotels and 100,000 short-term rentals worldwide. This expansion will be supported by the growth of its commercial team. Currently, more than 76 hoteliers and property management companies (PMCs) with over 10,000 units across nine countries use the platform.
Since its inception, Otamiser has reportedly achieved an Annual Recurring Revenue (ARR) of $1.9 million and expanded to a team of 32 employees worldwide, all without external capital. The company’s core team consists of five entrepreneurs, led by CEO Bart-Jan Leyts, with Korneel Defauw as Co-Founder & CRO, and supported by Lucas Ballyn (CTO), Nils Casteur (CCO), and Jarne Vancompernolle (COO).
“This raise reflects our approach and the market’s need for our platform. While direct booking websites remain important, nearly 75% of bookings now come through platforms like Booking.com, Expedia, and Airbnb, and positioning on these platforms is crucial,” said Bart-Jan Leyts, CEO and Founder of Otamiser, in a company press statement. “There is demand from hoteliers and property managers to rank higher on OTAs.”
Joining Pitchdrive VC in this funding round are several investors, including Stijn Christiaens, co-founder of Collibra; Jacob Quartier, formerly of Showpad; Peter van Praet, founder of Bavet; Viktor De Maertelaere of Hospitality House hotel chain; Lorenz Bogaert, serial entrepreneur behind Netlog and StarApps; and Jorn Vanysacker and Gilles Mattelin, the founders of Henchman.
With this new funding round, Otamiser reportedly aims to enhance its platform and expand its market presence, providing tools to help properties achieve optimal visibility and profitability on OTAs.