OTA Sync, a hospitality tech startup based in Tallinn, has successfully concluded an extended seed round, raising a substantial €1.3 million in funding. The startup provides a comprehensive cloud-based solution for hotel and property management, streamlining operations and enhancing guest experiences. The round was led by Presto Ventures and featured participation from Katapult Akcelerator, TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, and California Expert Fund DOJO. This significant investment will be used to support OTA Sync’s market expansion across Europe and Latin America and to facilitate further product development.
OTA Sync was established in 2021 by Djordje Jevtic and Ilija Milovic and operates with a team based in Tallinn, Estonia, and Serbia. OTA Sync is a cloud-based hotel and property management solution that offers a comprehensive suite of tools to simplify and enhance hotel management, catering to a global audience of more than 2,000 users in 17 countries. OTA Sync’s innovative platform brings together various aspects of hotel management, from property management and bookings to guest experience and revenue management.
Djordje Jevtic, Co-Founder & CEO of OTA Sync, expressed his excitement about the future, stating, “This is the first advanced hotel tech transformation period. With this round of investment, we will prove to hoteliers worldwide that technology is a necessary, useful part of the team and management process – not something that complicates their life.”
The hospitality industry, despite its global reach, still grapples with outdated technology and manual data processes. OTA Sync’s cloud-based solution is set to revolutionize the sector. By consolidating various facets of hotel management into a unified platform, the company aims to enhance employee productivity, improve guest experience, and increase revenue for hotels worldwide.
Presto Ventures, the lead investor in this funding round, is also enthusiastic about the potential impact of OTA Sync. Milan Lupac, Partner at Presto Ventures, stated, “We’re excited to welcome OTA Sync to Presto, as they complete our HORECA portfolio segment by adding their HO to our RECA. We believe the rapid post-covid surge of mass tourism creates an ideal setting for tools that significantly increase the productivity of the already scarce hospitality workforce. The synergy between Djordje and Ilija’s industry experience, coupled with the product’s maturity, positions them perfectly to capitalize on this vast opportunity. Personally, I can’t wait to see more hotels using OTA Sync during my travels.”
The global smart hospitality market is on an upward trajectory, with a projected CAGR of 29.79% from 2022 to 2030, reaching an estimated value of $110.08 billion by 2030. The prevalence of legacy tech in the industry presents a significant growth opportunity for cloud-based solutions like OTA Sync. The company’s strategic use of funds will facilitate its expansion to meet this growing demand.
With a talented team spanning Estonia and Serbia, OTA Sync has already garnered substantial user adoption and support from notable investors. This funding round will undoubtedly accelerate their mission to become a leading player in the global hospitality tech sector.
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Read the orginal article: https://arcticstartup.com/ota-sync-raises-e1-3m-extended-seed/
