San Francisco, CA – June 27, 2024 – Duetto (“Duetto” or the “Firm”), a number one supplier of income administration software program for the hospitality {industry}, as we speak introduced that it has been acquired by GrowthCurve Capital (“GrowthCurve”). GrowthCurve is buying the enterprise from associates of Warburg Pincus and different shareholders. Phrases of the transaction weren’t disclosed.
Duetto presents modern options that simplify lodge operations and optimize income. With a deal with natural product growth, knowledge and integrations, Duetto connects disparate techniques right into a cohesive, environment friendly platform that drives profitability and progress for resorts worldwide. Greater than 6,000 lodge and on line casino resort properties in additional than 60 nations use the Firm’s purposes, which embody GameChanger for pricing, ScoreBoard for clever reporting, and BlockBuster for contracted-business optimization. Earlier this week, Duetto launched its latest product, OpenSpace, a income administration resolution and reserving engine for assembly and occasion areas. Duetto’s dependable customer support and unwavering dedication to simplifying the complexities of lodge income administration have led to its recognition because the #1 RMS for 3 consecutive years by HotelTechAwards.
GrowthCurve Capital is a control-oriented personal fairness agency targeted on constructing companies by using knowledge, analytics and machine studying, mixed with a complete strategy to human capital, to hunt to speed up progress and drive long-term worth. GrowthCurve will associate with Duetto to additional speed up its AI technique, together with the event of recent AI merchandise, help the launch of recent enterprise strains and develop into new markets.
David Woolenberg, CEO of Duetto, acknowledged, “We’re excited to associate with GrowthCurve whose experience in machine studying and AI, coupled with their expertise in high-growth companies, aligns completely with our imaginative and prescient. This acquisition will increase our investments in modern tech, improve our capabilities to help our prospects and solidify our management in lodge income administration. We thank our prospects, group members, founders and companions for his or her continued help, in addition to Warburg Pincus, Icon Ventures and our buyers for his or her partnership. With the energy of the Duetto model, we’re assured that, along with GrowthCurve, we’ll obtain our bold progress targets and drive the way forward for hospitality tech.”
Matthew Popper, Head of Know-how and Info Companies Investing at GrowthCurve, stated, “Duetto is a pacesetter within the fast-growing income administration software program market, with a differentiated resolution that helps shoppers harmonize knowledge and handle decision-making at scale. We look ahead to partnering with David and the remainder of the administration group to speed up Duetto’s progress, together with making use of GrowthCurve’s purposeful capabilities in knowledge science and AI to additional improve the answer’s worth proposition for shoppers.”
Sim Allan, Vice President at GrowthCurve, added, “Duetto is uniquely positioned to speed up the adoption of refined analytics and AI within the hospitality sector, enabling shoppers to unlock the worth of their knowledge for all stakeholders, together with enhancing visitor experiences. We’re excited to associate with David and the industry-leading group at Duetto to proceed delivering modern software program options to the hospitality sector.”
“It has been a privilege and a pleasure to associate with Duetto these previous seven years. Duetto’s relentless deal with buyer satisfaction has been key to its success,” stated Ash Somani and Parag Gupta, Managing Administrators at Warburg Pincus. “Below David Woolenberg’s management, Duetto has constructed an extremely proficient group that we’re assured will proceed to thrive in its subsequent part of progress.”
Jefferies LLC served as lead monetary advisor, William Blair served as an advisor, and Orrick, Herrington & Sutcliffe LLP served as authorized counsel to Duetto. Houlihan Lokey served as unique monetary advisor and Davis Polk & Wardwell served as authorized counsel to GrowthCurve.
