The Life House project has raised a major round of funding, as well as a round of investment, to help it move forward. In this article, we’ll look at some of the key takeaways from the deal, as well as the next steps the Life House team should take.
Key takeaways from the deal
Innova apital and Kayak led a $60 million Series C round of funding for Life House, which is a lot of money for a startup. The company is a boutique hotel management software provider based in New York City that operates nearly 50 hotels across North America. Its flagship product is a revenue management system that allows hotels to earn a cut of the direct bookings made. They have a small but growing team of 60 employees and have recently announced two new hotels in Mexico. This company is also one of the most well funded hotel companies in the country.
The company is also the first to offer a slick branded mobile app for its hotel clients. Life House has a solid foothold in the New York city market and the company plans to leverage this presence to open two more hotels in Mexico. At the same time, it has built a vertically integrated and robust hotel operations platform that will likely enable it to grow exponentially in the coming years.
Key takeaways from the funding round
Life House is a hotel technology platform designed to help independent hotel owners with accounting, revenue management, and general operations. It operates more than 50 hotels in North America and Mexico and plans to double its presence to more than 100 by 2022.
Life House’s software is a sophisticated suite that includes a Revenue Management and Marketing System. The company is working to make this solution available as a SAAS solution. This helps hotel owners gain control over their day-to-day operations, while also offering the ability to sell directly to consumers.
Life House is an industry innovator with a vision to provide hotel owners with full-service, dynamic pricing and marketing. Founded by Rami Zeidan, Life House started out as a hotel brand, but has since evolved into a full-service, boutique hotel operator.
Today, Life House operates more than 50 hotels in North America and Canada and has a successful track record of working with hotel owners across the country. In addition to revenue management, the company offers a suite of software that helps hotel owners with general operations, marketing, branding, and financial reporting.
Key takeaways from the investment round
Life House is a hotel operations software provider. The company boasts a robust suite of solutions, including an online booking platform and a state-of-the-art revenue management system. Its newest announcement is two hotels in Mexico.
While the Life House name may not be immediately recognizable, its presence is felt on the ground in many states, and as of this writing, it has more than 50 hotel properties in North America. In the last year, it has raised over $100 million in funding, including a round led by KAYAK and Inovia Capital. Among other things, the company plans to use its latest infusion to improve its software. Similarly, it intends to use its existing suite of hotel property management applications to build a comprehensive hotel operations solution.
The company has already made several notable acquisitions, most notably the hotel management provider Snapcommerce. On a more micro level, it has also forged a strong partnership with Kayak, which will act as a distribution partner for the Life House software across its portfolio of hotels.
Next steps for Life House
Life House is the fastest growing hotel company in the United States. It provides an all-in-one hotel operations platform that makes it easy to operate any hotel. The software is designed to help independent hotel owners with revenue management, accounting, design, and branding.
With nearly 60 hotels in North America and three in Mexico, Life House has established itself as an operator of independent hotels. Kayak, a travel search engine company, is one of its lead investors. Life House recently announced plans to expand into Europe.
Life House will build a cloud-based hotel management platform. In the future, the company will also focus on selling the software to other third-party hotel operators. For now, the company will continue to expand its business into the United States and Canada.
Life House is also expanding into the European market, and it plans to increase its team size. To achieve this goal, it plans to use its fresh funding to develop and improve its product.