SAN FRANCISCO, California—Duetto introduced that it has been acquired by GrowthCurve Capital. GrowthCurve is buying the enterprise from associates of Warburg Pincus and different shareholders. Phrases of the transaction weren’t disclosed.
Duetto presents options that simplify lodge operations and optimize income. With a concentrate on natural product growth, information, and integrations, Duetto connects programs right into a cohesive platform that drives profitability and development for lodges worldwide. Greater than 6,000 lodge and on line casino resort properties in additional than 60 nations use the corporate’s purposes, which embrace GameChanger for pricing, ScoreBoard for clever reporting, and BlockBuster for contracted enterprise optimization. Earlier this week, Duetto launched its latest product, OpenSpace, a income administration resolution and reserving engine for assembly and occasion areas.
GrowthCurve Capital is a control-oriented non-public fairness agency targeted on constructing companies through the use of information, analytics, and machine studying, mixed with a complete method to human capital, to hunt to speed up development and drive worth. GrowthCurve will companion with Duetto to additional speed up its AI technique, together with the event of latest AI merchandise, help the launch of latest enterprise strains, and increase into new markets.
David Woolenberg, CEO of Duetto, acknowledged, “We’re excited to companion 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 enhance our investments in progressive tech, improve our capabilities to help our prospects, and solidify our management in lodge income administration. We thank our prospects, crew members, founders, and companions for his or her continued help, in addition to Warburg Pincus, Icon Ventures, and our traders for his or her partnership. With the power of the Duetto model, we’re assured that, along with GrowthCurve, we’ll obtain our formidable development goals and drive the way forward for hospitality tech.”
Matthew Popper, head of expertise and knowledge companies investing at GrowthCurve, mentioned, “Duetto is a pacesetter within the fast-growing income administration software program market, with a differentiated resolution that helps shoppers harmonize information and handle decision-making at scale. We stay up for partnering with David and the remainder of the administration crew to speed up Duetto’s development, together with making use of GrowthCurve’s useful capabilities in information science and AI to additional improve the answer’s worth proposition for shoppers.”
Sim Allan, vp at GrowthCurve, added, “Duetto is uniquely positioned to speed up the adoption of subtle analytics and AI within the hospitality sector, enabling shoppers to unlock the worth of their information for all stakeholders, together with enhancing visitor experiences. We’re excited to companion with David and the industry-leading crew at Duetto to proceed delivering progressive software program options to the hospitality sector.”
“It has been a privilege and a pleasure to companion with Duetto these previous seven years. Duetto’s relentless concentrate on buyer satisfaction has been key to its success,” mentioned Ash Somani and Parag Gupta, managing administrators at Warburg Pincus. “Underneath David Woolenberg’s management, Duetto has constructed an extremely proficient crew that we’re assured will proceed to thrive in its subsequent part of development.”
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.
