Hotel upsell platform Oaky is embarking on its next phase of growth and development following its biggest capital raise to date.
PeakSpan Capital is funding a $9.5 million Series A round, surpassing Oaky’s previous seed funding total of €2 million.
Oaky is an automated and personalized upselling tool that helps hoteliers capture incremental revenue and enable an elevated guest experience.
The Amsterdam-based company will use the funding to invest in product development, as well as to grow the team and expand its geographic footprint.
Lars Jonker, co-founder at Oaky, highlights PeakSpan’s “extensive experience working with growth-stage B2B SaaS businesses coupled with their focus on the hospitality technology arena.”
“We’re incredibly energized to leverage this investment to scale all areas of our organization, continue our geographic expansion and solidify Oaky’s position as the global thought leader in this burgeoning category,” says Jonker.
Since launching in 2013, Oaky has expanded to more than 1,500 hotels across 90 countries around the world.
Says Matt Melymuka, partner and co-founder at PeakSpan: “Hospitality tech has been one of our most active themes, and the long-term perspective and appreciation for the nuanced dynamics of the category we’ve developed over the last several years enabled us to quickly identify the strategic value of Oaky’s position in the market.
“We’ve been consistently impressed by the grit, passion and authenticity that permeates the culture of the organization, and we’re energized to support the team and collectively capitalize on the opportunity in front of us.”