LodgIQ Unveils Its Next-Generation Revenue Optimization Platform for Travel; Secures $5 Million in Seed Funding Led by Highgate Ventures
(Thomson Reuters ONE) -
NYC-Based Startup Launches Industry-First Predictive Analytics and True Machine
Learning Platform
NEW YORK, Feb. 16, 2016 (GLOBE NEWSWIRE) -- LodgIQ(TM), which is firmly
committed to bringing the discipline of revenue optimization into the
21st century, today announced the official launch of the company and its
platform. LodgIQ RM(TM) is a next-generation revenue optimization platform for
the hospitality industry developed by seasoned travel executives and Silicon
Valley technologists. The NYC startup has secured $5 million in seed funding led
by Highgate Ventures, a venture capital platform focused on early stage
technology investments in the hospitality industry, and Trilantic Capital
Partners, a global private equity firm. LodgIQ(TM) has already made a
significant investment in advanced machine learning platforms and data science.
Built around a multi-source big data eco-system, LodgIQ RM(TM) combines
sophisticated machine learning with an intuitive and powerful user interface to
deliver advanced recommendations and actionable analytics. The platform is
designed to think, learn and morph with each user's unique clickstream enabling
the user to make optimal revenue decisions.
"The revenue optimization user community in travel has become increasingly
sophisticated over the past decade, and yet we have not seen the non-linear
advances in technology that other industries have experienced," said Ravneet
Bhandari, CEO of LodgIQ(TM). Bhandari, who brings over 20 years of domain
expertise in leadership and advisory roles with top industry flags including
Hyatt, Caesars Entertainment and Starwood Capital commented further: "Big data
isn't a buzzword - it's a given. LodgIQ RM(TM) makes it instantly actionable
through cognitive machine learning in an easy, intelligent and highly effective
platform."
The company has already secured its launch customer and will deploy its new
platform at five prominent New York City hotel properties in February 2016.
"We remain very bullish on disruptive travel technology plays and believe that
LodgIQ has the potential to quickly dominate the revenue optimization
landscape," added Vann Avedisian, Principal at Highgate Ventures. "The
technology and design are unlike anything in the market."
LodgIQ(TM) will allow limited access starting today. The platform will be
available at ITB Berlin on March 9-13, 2016. To arrange a private demonstration,
submit a request toshowme(at)lodgiq.com. For more information visit www.LodgIQ.com
Media contact: North 6th Agency (for LodgIQ)
212-334-9753, lodgiq(at)n6a.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: LodgIQ via GlobeNewswire
[HUG#1985979]
Datum: 16.02.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 450924
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