Duetto (“Duetto” or the “Firm”), a number one supplier of income administration software program for the hospitality {industry}, right now introduced that it has been acquired by GrowthCurve Capital (“GrowthCurve”). GrowthCurve is buying the enterprise from associates of Warburg Pincus and different shareholders. Phrases of the transaction weren’t disclosed.
Duetto affords modern options that simplify resort operations and optimize income. With a give attention to natural product growth, information and integrations, Duetto connects disparate methods right into a cohesive, environment friendly platform that drives profitability and progress for motels worldwide. Greater than 6,000 resort and on line casino resort properties in additional than 60 international locations use the Firm’s purposes, which embrace GameChanger for pricing, ScoreBoard for clever reporting, and BlockBuster for contracted-business optimization. Earlier this week, Duetto launched its latest product, OpenSpace, a income administration answer and reserving engine for assembly and occasion areas. Duetto’s dependable customer support and unwavering dedication to simplifying the complexities of resort income administration have led to its recognition because the #1 RMS for 3 consecutive years by HotelTechAwards.
GrowthCurve Capital is a control-oriented non-public fairness agency targeted on constructing companies by using information, analytics and machine studying, mixed with a complete method to human capital, to hunt to speed up progress and drive long-term worth. GrowthCurve will companion with Duetto to additional speed up its AI technique, together with the event of recent AI merchandise, assist the launch of recent enterprise strains and broaden into new markets.
David Woolenberg, CEO of Duetto, acknowledged, “We’re excited to companion with GrowthCurve whose experience in machine studying and AI, coupled with their expertise in high-growth companies, aligns completely with our imaginative and prescient. This acquisition will enhance our investments in modern tech, improve our capabilities to assist our clients and solidify our management in resort income administration. We thank our clients, crew members, founders and companions for his or her continued assist, in addition to Warburg Pincus, Icon Ventures and our traders for his or her partnership. With the power of the Duetto model, we’re assured that, along with GrowthCurve, we’ll obtain our bold progress goals and drive the way forward for hospitality tech.”
Matthew Popper, Head of Expertise and Data Providers Investing at GrowthCurve, mentioned, “Duetto is a pacesetter within the fast-growing income administration software program market, with a differentiated answer that helps shoppers harmonize information and handle decision-making at scale. We stay up for partnering with David and the remainder of the administration crew to speed up Duetto’s progress, together with making use of GrowthCurve’s useful capabilities in information science and AI to additional improve the answer’s worth proposition for shoppers.”
Sim Allan, Vice President at GrowthCurve, added, “Duetto is uniquely positioned to speed up the adoption of refined analytics and AI within the hospitality sector, enabling shoppers to unlock the worth of their information for all stakeholders, together with enhancing visitor experiences. We’re excited to companion with David and the industry-leading crew at Duetto to proceed delivering modern software program options to the hospitality sector.”
“It has been a privilege and a pleasure to companion with Duetto these previous seven years. Duetto’s relentless give attention to buyer satisfaction has been key to its success,” mentioned Ash Somani and Parag Gupta, Managing Administrators at Warburg Pincus. “Below David Woolenberg’s management, Duetto has constructed an extremely gifted crew that we’re assured will proceed to thrive in its subsequent part of progress.”
Jefferies LLC served as lead monetary advisor, William Blair served as an advisor, and Orrick, Herrington & Sutcliffe LLP served as authorized counsel to Duetto. Houlihan Lokey served as unique monetary advisor and Davis Polk & Wardwell served as authorized counsel to GrowthCurve.
