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Hospitality management software provider Cloudbeds has brought in a $9 million Series B investment round, bringing its total so far to $20 million. The round comes almost a year to the day on from a $3.14 million Series A from returning backer Cultivation Capital. Born in San Diego in 2012, Cloudbeds has created a “suite” of products including a property management system, channel services and a booking engine.
Its client base includes those in the hotel, hostel, camping area and vacation rental sectors of the hospitality world. Cloudbeds has since grown from its California base to open offices in Ireland and Brazil, with customers in 120 countries (it connects customers to 300+ channels). The new round will be used to grow the business internationally and put the product in more areas of the “longtail hospitality sector”. Read original article |
