Diamo, a revenue platform for independent hotels, has secured $4 million in seed funding, led by Thayer Ventures and Inovia Capital, with participation from Avalon Capital Group and several angel investors. The funding will accelerate product development and support the product’s global expansion, advancing its mission to help independent hotels succeed by simplifying access to sophisticated revenue strategies.
“The revenue challenges faced by smaller independents are far more complex than what existing disconnected solutions address,” said James Kay, CEO, Diamo. “Revenue performance is what enables unique independent hotels to offer authentic, memorable travel experiences. In a world increasingly dominated by big brands and standardized OTAs, 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 combines multiple revenue management tools and functions in one place. It integrates automated dynamic pricing, omnichannel digital marketing and a conversion-optimized website and booking engine, optimizing each stage of the guest booking journey. Time-strapped hoteliers can partner with Diamo to increase their revenues by 35%, according to the company.
As part of its vision to harness AI to deliver sophisticated revenue strategies with minimal time and cost investment, Diamo is soon launching its AI assistant “ANDI.” ANDI will support hoteliers in managing their revenue by automatically configuring their revenue strategy based on real-time data; launching new ad campaigns; and offering ongoing recommendations across pricing, digital marketing and distribution. In other words, ANDI functions like a human revenue manager for smaller properties that can’t afford one.
As part of the financing, Tyler Carrico, partner at Thayer Ventures, will join Diamo’s board of directors. “Diamo is building something the market has been waiting for,” said Carrico. “We’re excited to help bring it to more hotels around the world.”
