Startup of the Week: Pace Revenue

  • Pace Revenue was founded in London by Jason Pinto, Jens Munch and John-Paul Clarke.
  • The startup have designed a revenue platform to help those in hospitality optimise their revenue management.
  • So far, Pace Revenue have raised £4.5 million over 2 funding rounds.

 

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Website: https://www.pacerevenue.com/

Our Startup of the Week for this week is Pace Revenue! A revenue platform built to help hospitality innovators, revolutionising hotel and hostels’ revenue management.

Founded in 2017, the Pace Revenue platform boasts a fantastic offering for its hospitality clients, with innovative business intelligence, industry-leading decision intelligence and a suite of intuitive management tools.

Pace uses machine learning to help set room prices based on their demand. Room prices can be set thousands of times throughout a given week according to these demands.

The startup was founded by Jason Pinto, Jens Munch and John-Paul Clarke, who prior to Pace Revenue, worked in very different areas, these being academic research, tech companies and venture capital.

The three came together with the shared beliefs that the value of revenue management and dynamic pricing is not completely understood by most people, and furthermore that the solutions available today are far away from capturing their customers’ full potential value.

Pace was founded to change revenue management for the better, inventing new technology that helps tackle empty rooms for hotel owners, thereby maximising profits and supporting revenue management.

So far, the company have raised a total £4.5 million over the course of 2 funding rounds, their latest announced in July 2019 – a Seed Round which raised £2 million.

Since launching the startup have released an industry-first hourly automated adaptive pricing. Its team has grown to 30 people, and boasts an impressive list of customers including Generator, Accor, a&o and Best Western.