StayNTouch Secures $1.6M Investment Seed Round Led by Concur
StayNTouch is Rethinking the Entire Interaction Between Hotels and Their Guests With Next-Generation Solutions
Potomac, MD – July 25, 2013 – StayNTouch Inc., a developer of next-generation cloud-based solutions for hotels, today announced closed $1.6 million in Seed financing. Concur (Nasdaq: CNQR), the leading provider of integrated travel and expense management solutions, led the round through the Concur Perfect Trip Fund. Participating in the round is Acceleprise, the preeminent accelerator community for enterprise technologists.
StayNTouch plans to use the new capital to accelerate product development and expand sales operations. Concur Executive Vice President of Supplier Management and Advertising, Michael Koetting, will join the company’s board of directors.
“We have an opportunity today to dramatically improve the way hotels operate and connect with their guests via a cloud-based mobile-optimized computing model managing all touch points between hotel staff and guests” said StayNTouch CEO/Founder Jos Schaap. “This revolutionary approach will not only improve the hotel guest experience, but can also drive higher margins for hotels through significantly improved business processes.”
EVP Sales/Founder Tim Kinsella added “We are thrilled to join Concur’s ecosystem of game-changing travel companies. The company’s knowledge of traveler needs and its drive to make travel more connected and enjoyable are a great fit with StayNTouch’s mission.”
StayNTouch is aimed at rethinking the entire interaction between the hotel and their guests through a cloud-based platform that manages all on-property touch points between hotel staff and guests. The platform dramatically simplifies all business processes for the hotel staff and requires a fraction of the training required by today’s legacy solutions. The company’s first product is the StayNTouch Mobile App Platform allowing any hotel or group to extend white-labeled, hotel branded apps to their guest’s smart phone. StayNTouch provides solutions that brilliantly connect guest to hotels, enabling guests with the ability to check-in/out, order hotel services, communicate to hotel staff and more via their smart-phone from anywhere anytime. The result is dramatically increased guest engagement and a more nimble and effective hotel staff.
“Concur is committed to driving the innovation agenda for our industry, and that requires providing bright, emerging companies with the funding they need to deliver world-class solutions,” said John Torrey, Executive Vice President, Corporate Strategy of Concur. “StayNTouch shares Concur’s spirit of creativity and entrepreneurship. We believe their solutions have the ability to transform the interaction between hotels and their guests, bringing the industry one step closer to making the Perfect Trip a reality.”
StayNTouch is brilliantly connecting guests to hotels. Pioneering new technology for the hospitality sector, StayNTouch is leveraging the convergence of cloud, tablet, guest mobile and social technologies to create a new approach of how hotels can dramatically streamline operations and increase margin, how the hotel connects and engages their guests and how guests experience their hotels. The result is a more nimble and effective hotel staff and dramatically increased guest engagement.
About the Concur Perfect Trip Fund
Concur is a leading provider of integrated travel and expense management solutions for companies of all sizes. Concur’s easy-to-use web-based and mobile solutions help companies and their employees control costs and save time. The Concur Perfect Trip Fund is designed to fund emerging companies who are helping Concur transform the corporate travel industry by driving innovation on behalf of travelers, businesses and suppliers. Learn more by visiting https://www.concur.com/en-us/perfect-trip-fund.
Acceleprise is an accelerator focused on enterprise technology founded and anchored by investor and entrepreneur Sean Glass. It is the first independent accelerator focused solely on enterprise technology in the United States. Over the next three years, Acceleprise will invest in over 60 companies focused on building web based software to solve large organizations’ problems. Acceleprise provides both capital and community support to enterprise entrepreneurs while they work from a shared office in Washington DC over four months.
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Todd Friedman, Concur, 415.401.1205, Todd.Friedman@concur.com
Allen Gannett, Acceleprise, 732.939.5270, email@example.com