DIAMO, a revenue platform for independent hotels, announced it has secured $4 million in seed funding, led by Thayer Ventures and Inovia Capital. Avalon Capital Group and several angel investors also participated.
This funding round will advance product development and support DIAMO’s global expansion while advancing its goal to help independent hotels succeed by simplifying access to better revenue strategies.
What DIAMO does: DIAMO provides a comprehensive revenue platform that combines multiple revenue management tools and functions in one place. And the platform integrates automated dynamic pricing, omnichannel digital marketing, and a conversion-optimized website and booking engine, optimizing each stage of the guest booking journey.
Hoteliers can partner with DIAMO to increase their revenues by 35%. DIAMO’s experienced revenue managers provide expert guidance, helping clients navigate the complex revenue landscape.
As part of its vision to utilize AI to deliver sophisticated revenue strategies with minimal time and cost investment, DIAMO is soon launching its AI assistant “ANDI”. And ANDI will support hoteliers in managing their revenue by automatically configuring their revenue strategy based on real-time data; launching new ad campaigns; and offering ongoing recommendations across pricing, digital marketing, and distribution. So ANDI functions like a human revenue manager for smaller properties that cannot afford one.
DIAMO works with clients worldwide, serving properties in the USA, Canada, Central America, Europe, Africa, and Asia. And hotels with under 150 rooms, especially those that are owner-operated or run by small teams, stand to benefit most from the time savings and performance enhancements driven by DIAMO’s platform.
In connection with the funding, Tyler Carrico, Partner at Thayer Ventures, will join DIAMO’s Board of Directors.
KEY QUOTES:
“The revenue challenges faced by smaller independents are far more complex than what existing disconnected solutions address. Revenue performance is what enables unique independent hotels to offer authentic, memorable travel experiences. In a world increasingly dominated by big brands and standardized OTAs, we aim to empower the independent hoteliers that give hospitality its heart. In response, we’ve built an intuitive yet powerful platform that allows smaller hotels to succeed by using the same revenue tactics as large and branded hotels, without the need for expensive technology and teams.”
– James Kay, CEO of DIAMO
“DIAMO is building something the market has been waiting for. We’re excited to help bring it to more hotels around the world.”
– Tyler Carrico
“DIAMO is uniquely positioned to become the go-to platform for independent hotels looking to optimize their revenue strategies. Their vision of empowering hoteliers with the tools they need to succeed aligns with the next wave of tech adoption for smaller hotels. We’re confident that James and his team have the potential to redefine how smaller hotels approach revenue management on a global scale.”
– Mia Morisset
