DIAMO, a revenue platform designed for independent hotels, has raised $4m in seed funding to accelerate its product development and support global expansion.
The investment was led by early-stage venture capital company Thayer Ventures and full-stack software investor Inovia Capital, with contributions from Avalon Capital Group and various other angel investors.
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Thayer Ventures partner Tyler Carrico will join Diamo’s board of directors as part of the financing agreement.
Diamo CEO James Kay said: “The revenue challenges faced by smaller independents are far more complex than what existing disconnected solutions address.
“Revenue performance is what enables unique independent hotels to offer authentic, memorable travel experiences. In a world increasingly dominated by big brands and standardised OTAs [online travel agencies], we aim to empower the independent hoteliers that give hospitality its heart. In response, we’ve built an intuitive yet powerful platform that allows smaller hotels to succeed by using the same revenue tactics as large and branded hotels, without the need for expensive technology and teams.”
The platform offers revenue management tools, including automated dynamic pricing, omnichannel digital marketing, and a conversion-optimised website and booking engine.
These integrated functions work together to optimise each stage of the guest booking journey.
According to a Diamo press release, hoteliers who are often pressed for time can leverage the company’s platform to potentially increase their revenues by up to 35%.
Diamo’s team of revenue managers will offer guidance to help clients navigate the revenue landscape.
In the near future, the company will introduce “ANDI”, an AI assistant designed to further support hoteliers.
The solution will automate the configuration of revenue strategies using real-time data, initiate new advertising campaigns, and provide continuous recommendations on pricing, digital marketing, and distribution.
Diamo has a client base spanning the US, Canada, Central America, Europe, Africa, and Asia.
The platform is claimed to be particularly beneficial for hotels with fewer than 150 rooms, especially those operated by owners or small teams, offering time savings and performance improvements.
