Thynk, a global provider of advanced technology solutions for data-driven hotel sales and operations management, today announced details on its latest successful round of investment, resulting in $13 million received in Series A funding. The injection of capital combined with Thynk’s impressive revenue growth will further fuel the company’s accelerated R&D efforts as well as its ongoing global expansion, with teams and customers already present in European, American and Middle East hospitality markets.
Led by Singular, the $13 million equity investment also featured contributions from a New-York based fund managed by Itai Tsiddon, and Belgian investment firm CNP (Groupe Frère). With Thynk continuing to experience rapid growth and success in meeting hotel industry operational needs, returning investors such as Fly Ventures also took part in the latest funding round.
The increased access to capital is further bolstered by Thynk’s revenue performance. Key to Thynk’s successful performance is the adoption of its process automation, data-driven, and customer centric verticalized platform by major hotel companies/groups, including Postillion (Netherlands), Rotana (UAE), Groupe Lucien Barrière (France), Design Hotels (Germany), and Mint House (USA).
“Our rapid success lies in our ability to empower the hospitality industry with a core solution that triggers business agility and performance, by streamlining sales, operations, and finance processes both on property and at an enterprise level,” said Pascal Petit, CEO of Thynk. “Everything we invest in serves our ultimate mission of enabling hoteliers to do more with less, to adapt faster to market changes, and to focus on what leads to higher profit margins. Using this newest source of funding, our global team is determined to accelerate our ambitious strategies which include further enriching our data-driven and customer-centric revenue operating solution, solidifying our international presence and empowering more hotel brands, operators, and asset managers around the world with tools proven to boost both efficiency and revenue.”
Nils Scheers, COO and co-founder, added, “The hospitality industry is now almost back to pre-pandemic performance levels across all segments. The fluctuating market has been accompanied by an increase in competition, resulting in more hospitality providers embracing technology to keep pace with the optimization of operations on property, in centralized sales teams and the corporate/enterprise level. Customers who have partnered with Thynk are discovering a more robust, adaptive and profitable business model focused on leveraging relationships and data across hotel locations. With centralized access to real-time revenue and guest analytics, hoteliers finally have an effective and fully automated means of tapping into high-value data that can enhance the performance of group, event, corporate and agency-based business and much more. Thynk can achieve all this while preserving a hotel’s unique tone of voice and the type of guest experience they seek to offer.”
Raffi Kamber, Founder and General Partner at Singular commented, “Since its launch, Thynk has proven to be a powerful asset for industry professionals as well as a disruptive force that focuses its R&D efforts on technologies that the hotel industry crucially needs but was previously lacking. As a verticalized CRM solution in tune with the desire of hoteliers to eliminate operational silos standing in the way of addressing higher guest expectations, Thynk is undoubtedly leading the way to hotel operations that are more agile and capable of making informed decisions that maximize guest satisfaction rates, despite changing market conditions.”
“Investor confidence in Thynk clearly demonstrates the tremendous potential that the company possesses while validating the impressive results that Thynk has already achieved for businesses across the global hospitality industry,” said Itai Tsiddon, a New York based founder who’s previously led financing rounds in five software businesses to have crossed $100m in yearly revenue. “With hoteliers yearning to modernize their operations and get back to driving increased demand for their various service offerings, Thynk with its comprehensive abilities and flexible vertical solution is sure to be a critical platform that will provide industry professionals with the competitive edge they seek.”
Harriet Ruby, Head of Marketing