Thynk, a proptech company that provides cloud-based software for hotel sales, operations, and data management, announced completion of a $13 million Series A fundraising round.
The additional capital, combined with existing cash flow, will fund additional R&D and global expansion. The company says it already has presence in “European, American, and Middle East hospitality markets.”
Leading the funding round was Singular. Also involved were from “a New-York based fund managed by Itai Tsiddon, and Belgian investment firm CNP (Groupe Frère)” and some returning investors like Fly Ventures.
Current users include such major hotel companies/groups as Postillion (Netherlands), Rotana (UAE), Groupe Lucien Barrière (France), Design Hotels (Germany), and Mint House (USA).
Thynk says that use cases of its system include group sales and customer relationship management (CRM); groups and events, guest journey management; and data insights.
Thynk’s software integrated with various property management, point-of-sale, and third-party software, including Mews PMS, Oracle PMS, StayNTouch PMS, and Lightspeed POS. Customers can also request new integrations to currently unsupported products. Integrations involve two-way data sharing to keep systems in sync.
There is support for multi-property management with data transparency to connect sales and operations; automation for better efficiencies from process management; mobile use; and security and administration. There are existing workflows for contract management, reporting and forecasting, and meetings, incentives, conferences, and exhibitions (MICE).
Raffi Kamber, founder and general partner at Singular calls Thynk “a verticalized CRM solution in tune with the desire of hoteliers to eliminate operational silos standing in the way of addressing higher guest expectations.”
The company provides the hospitality industry “with a core solution that triggers business agility and performance, by streamlining sales, operations, and finance processes both on property and at an enterprise level,” says Pascal Petit, Thynk’s CEO. ““Everything we invest in serves our ultimate mission of enabling hoteliers to do more with less, to adapt faster to market changes, and to focus on what leads to higher profit margins. Using this newest source of funding, our global team is determined to accelerate our ambitious strategies which include further enriching our data-driven and customer-centric revenue operating solution, solidifying our international presence and empowering more hotel brands, operators, and asset managers around the world with tools proven to boost both efficiency and revenue.”