H2O Hospitality, a hotel technology specialist, has raised more than $30 Million in Series C funding. The round, which was led by Kakao Investment, also included the state-run Korea Development Bank, Gorilla Private Equity, Intervest and NICE Investment. The Kejora-Intervest Growth Fund, a joint fund of Southeast Asia, also took participated in the round, boosting H2O’s expansion into the Southeast Asian market. The Series C comes on top of a Series B investment of $7 million announced just over 18 months ago. Japan-based H2O says it offers the hotel industry an integrated management system including channel, property and room management technology.
The company, which launched in 2017, plans to use the funding to expand into new markets as well as develop its technology. H2O says its technology can reduce hotel expenses by 50% as well as boost sales by 20%. John Lee, CEO of H2O Hospitality, says: “H2O Hospitality will do the best to support hotels’ digital transformation for the smart operation and management, and to lead the new generation of hotel management.” H2O recently acquired ImGATE, a contactless hotel solution.
