Country for PR: United States
Contributor: PR Newswire New York
Thursday, February 15 2018 - 07:00
AsiaNet
Duetto Closes $80 Million Series D Financing Round Led by Warburg Pincus
SAN FRANCISCO, Feb.15/PRNewswire-AsiaNet/--

-- Record investment in hotel technology will fuel product growth and global 
expansion of industry's only Revenue Strategy Platform

Duetto, hospitality's only Revenue Strategy Platform, announced today the 
closing of an $80 million Series D financing round led by funds affiliated with 
Warburg Pincus, a leading global private equity firm focused on growth 
investing.  The round is the largest ever non-acquisition investment in a 
software company serving the hotel industry.

Photo - https://mma.prnewswire.com/media/641663/Duetto_Founders.jpg 

Logo - https://mma.prnewswire.com/media/641664/Duetto_Logo.jpg 

Duetto (http://duettocloud.com/ ) was founded in 2012 by CEO Patrick Bosworth, 
Chief Marketing and Strategy Officer Marco Benvenuti and Chief Technology 
Officer Craig Weissman, the former CTO at Salesforce.com.  The company's 
flagship software-as-a-service (SaaS) application, GameChanger, brought machine 
learning, new consumer-centric data and the breakthrough innovation of Open 
Pricing to the industry, enabling hotel companies to independently price all 
distribution channels, customer segments, room types and stay dates in real 
time.  Duetto, headquartered in San Francisco and with offices in Las Vegas, 
Cleveland, London and Singapore, has quickly grown to serve more than 2,500 
hotels and casinos in more than 60 countries.  Those customers have 
consistently outperformed the market, beating their competition's rate of 
revenue growth by more than 6.5% since the launch of the company.

"As the pace of change has accelerated and the threats of digital disruption 
have grown, so have our efforts to help this industry we are so passionate 
about.  We are pleased to have the support of Warburg Pincus, whose extensive 
experience in building SaaS businesses of scale will help drive our growth and 
provide solutions to more hoteliers worldwide," said Patrick Bosworth, 
co-founder and CEO of Duetto.  "For more than a decade, hotel companies have 
been looking for ways to compete more effectively with online travel agencies 
and drive more direct business.  By unifying data across the tech stack, our 
platform has become the single source capable of delivering true 
personalization to consumers.  Hoteliers now have the ability to increase 
conversion and drive more direct engagement with consumers by personalizing 
pricing and merchandising at the point of booking." 

"Duetto has established itself as the market leader in the hotel revenue 
management space, providing its customers with next-generation solutions to 
optimize demand, maximize rates and minimize costs," said Ashutosh Somani, 
Managing Director, Warburg Pincus.  "With its strong domain experience and deep 
cloud SaaS technology leadership, Duetto is uniquely positioned to bring new 
capabilities to the hospitality industry.  We look forward to supporting 
Patrick and the Duetto leadership team in their next chapter of growth."  

Duetto's Revenue Strategy Platform brings together all core technologies and 
data to make them accessible through multitenant cloud architecture using AWS 
and MongoDB, enabling future innovations and new applications.  The company's 
intelligent reporting application ScoreBoard forecasts and analyzes 
performance, delivering key insights to stakeholders across the organization.  
BlockBuster brings Open Pricing to contracted group business and enhances 
collaboration between the sales and revenue management teams.  PlayMaker, the 
industry's first application to personalize the booking experience in real 
time, customizes merchandising content and offers for known and unknown guests.

"We want to modernize ecommerce in the hotel industry with our Revenue Strategy 
Platform at the center of the new hotel tech stack," said Marco Benvenuti, 
Chief Marketing and Strategy Officer of Duetto.  "Our cloud platform is open 
and agnostic and we look forward to partnering with other technology companies 
to unlock new ways of driving efficiencies and more revenue for the hotelier. 
With our agile development process, we will continually improve our core 
applications while looking to develop new products when there is a crucial 
industry need not being served."

Duetto is backed by investors Warburg Pincus, Icon Ventures, Accel Partners, 
Battery Ventures and Spectrum 28.

About Duetto 

Duetto (http://www.duettocloud.com/ ) is hospitality's only Revenue Strategy 
Platform. A powerful suite of cloud applications addresses the industry's 
complexity in distribution and technology, providing solutions that increase 
booking conversion, guest loyalty and revenue.

The unique combination of hospitality experience and technology leadership 
drives Duetto to look for new and innovative solutions to the industry's 
greatest challenges. Duetto delivers software-as-a-service to hotels and 
casinos that leverage dynamic data sources and actionable insights into pricing 
and demand across the enterprise, enabling a holistic and more profitable 
Revenue Strategy.

Duetto's fully deployed hotel clients using GameChanger have recorded an 
average RevPAR Index lift of 6.5%. (http://duettocloud.com/roi/ ) More than 
2,500 hotel and casino properties in more than 60 countries have implemented 
Duetto's applications, which include GameChanger 
(http://duettocloud.com/gamechanger/ ) for Open Pricing, ScoreBoard 
(http://duettocloud.com/scoreboard/ ) for intelligent reporting, PlayMaker 
(http://duettocloud.com/playmaker/ ) for personalization, and BlockBuster 
(http://duettocloud.com/blockbuster/ ) for contracted-business optimization.

For more information, visit http://www.duettocloud.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth 
investing.  The firm has more than $44 billion in private equity assets under 
management.  The firm's active portfolio of more than 150 companies is highly 
diversified by stage, sector and geography.  Warburg Pincus is an experienced 
partner to management teams seeking to build durable companies with sustainable 
value. Founded in 1966, Warburg Pincus has raised 17 private equity funds which 
have invested more than $60 billion in over 800 companies in more than 40 
countries.  The firm is headquartered in New York with offices in Amsterdam, 
Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San 
Francisco, Sao Paulo, Shanghai and Singapore.  For more information please 
visit: www.warburgpincus.com. 

SOURCE: Duetto

CONTACT: Duetto, Eric Stoessel, es@duettoresearch.com, Warburg Pincus, 
         Christopher Beattie, +1-(212)-878-9201 
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