Austin-based Virdee, a trailblazer in guest experience technology and check-in automation, has just made a significant announcement. The company has successfully raised a substantial $12.4 million in a Series A funding round, and the news is already causing waves in the hospitality industry.
This financing round was oversubscribed and led by Moneta Ventures, a respected player in the investment world, and included participation from strategic partners like Silverton Partners, Koch Real Estate Investments, Alumni Ventures, DJR Advisors, Capital Factory, and others. With this fresh injection of capital, Virdee has ambitious plans for further technological innovation, expanding product features and functionality, growing its workforce, and strengthening its foothold in the highly competitive hospitality sector.
A Journey of Growth
Virdee’s journey to this pivotal moment has been marked by impressive growth and innovation. The company had previously secured Series Seed financing in February 2022, spearheaded by Silverton Partners, an Austin-based venture capital firm. Additionally, in 2020, Virdee received angel investment from Rajiv Trivedi, the former President of La Quinta Inns & Suites. In total, Virdee has now amassed over $21 million in funding, a testament to its strong value proposition and rapid expansion.
Partnerships that Matter
Brent Kelton, a Partner at Moneta Ventures and the newest addition to Virdee’s board, expressed their enthusiasm for the partnership, stating, “We were drawn to Virdee’s value proposition – tech that improves the guest experience while enabling staff to do more. Virdee has a robust customer roster, has grown quickly, and with its domain expertise in the hotel sector, is positioned to become a category-defining leader in the hospitality tech space. We are excited to partner with Virdee as it embarks on this new chapter of its growth.”
A Tech-Driven Success Story
Founded in 2020 by Nadav Cornberg and Branigan Mulcahy, Virdee’s rise in the last two years has been nothing short of remarkable. In 2022, the company recorded an astounding 600% revenue growth, and similar expectations are set for 2023. Virdee’s platform is a game-changer, connecting guests and hotels through digital applications and artificial intelligence, streamlining all front desk transactions. From major hotel brands to boutique properties, Virdee’s solution seamlessly integrates into their existing digital experiences, enhancing guest satisfaction, reducing wait times, and transforming front desk staff into guest relationship managers. Notably, Virdee’s installation base includes four of the largest casino hotels in Las Vegas, along with several other major hotel brands.
A Vision for the Future
Branigan Mulcahy, Co-Founder of Virdee, expressed their excitement about the company’s future, saying, “We are pleased to announce the completion of our oversubscribed Series A funding from Moneta Ventures and others to support Virdee’s ongoing vision to transform the digital guest experience at hotels. Moneta Ventures’ expertise and experience in helping scale businesses like Virdee is an irreplaceable asset to the company as we continue to penetrate the hospitality sector. As we already support some of the leading hospitality brands in the world, we are pleased to receive this Series A funding and excited to write the next chapter in our success story.”
Innovating for Hospitality Excellence
Nadav Cornberg, Co-Founder of Virdee, highlighted the company’s commitment to innovation and delivering value, stating, “For hospitality brands, Virdee’s pursuit of streamlining and simplifying the hotel check-in process and the digital guest experience has resulted in an offering that is truly a value-add with incredible speed-to-market via our SDK. As we innovate and add new features, we see our client base expand in kind. In founding a company such as Virdee, our key goal has always been to deliver unparalleled value to the hospitality marketplace.”
The Virdee Advantage
Virdee is dedicated to driving technological transformation across the hospitality industry, empowering clients to seamlessly implement a virtual reception. Their contactless hotel check-in experience is versatile, working with any system and supporting 100% of guest check-ins. As they continue to shape the future of the hospitality sector, Virdee invites you to explore their solutions by visiting www.virdee.io.
- Virdee, a leader in guest experience technology, secures $12.4 million in Series A funding led by Moneta Ventures.
- The funding will fuel technological innovation, expand product features, and deepen Virdee’s presence in the hospitality sector.
- Virdee has previously received Series Seed financing and angel investment, bringing its total funding to over $21 million.
- The company has seen remarkable growth, with 600% revenue growth in 2022, and it connects guests and hotels through digital applications and AI.
- Virdee’s platform streamlines front desk transactions and enhances the guest experience, with clients including major casino hotels in Las Vegas.
- The Series A funding will support Virdee’s vision of transforming the digital guest experience at hotels.
- The company is dedicated to innovation and delivering unparalleled value to the hospitality marketplace through its contactless hotel check-in experience.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.